Tokenized deposit rates, compared in plain English.
Bank deposits are moving onto blockchains. See who offers tokenized deposits, what they pay, who can use them, and how they compare with high-yield savings accounts and stablecoin rewards, with a public source behind every number.
Tokenized deposit products
Rates are variable and change often. We only show a rate when the provider has published it. If a provider hasn't published a rate, we say "Not public." Inclusion here is not an endorsement, and none of these companies is a partner of this site.
Bank-issued tokenized deposits
Last reviewed October 25, 2026| Product | Who can use it | Rate | Deposit insurance | Source | |
|---|---|---|---|---|---|
| Loading rates… | |||||
High-Yield Savings (FDIC-insured)
The safest way to earn more than a regular bank account. These online banks and cash accounts pay several times the national average, and your money is a regular insured deposit.
High-yield savings accounts
FDIC insured| Account | Standard rate | Minimum | FDIC insured? | Source | |
|---|---|---|---|---|---|
| Loading rates… | |||||
See all savings accounts and how they work →
National averages for context
| Product | Rate | FDIC insured? | Source |
|---|---|---|---|
| Loading… | |||
Stablecoin Rewards (not FDIC-insured, higher risk)
Some crypto platforms pay "rewards" for holding dollar stablecoins. The rates can look like savings rates, but the risks are very different.
Stablecoin rewards and DeFi yields
Not FDIC insured · higher risk| Program | Rate | Conditions | Insured? | Source | |
|---|---|---|---|---|---|
| Loading rates… | |||||
Tokenized deposits, in plain English
Think of it as your bank balance with a digital receipt that can move on a blockchain at any hour.
It's still a bank deposit
Each token stands for $1 you have on deposit at a bank. The bank owes you that money, just like a checking or savings balance.
It moves 24/7
Because the record lives on a blockchain, money can move in seconds, including nights, weekends, and holidays, instead of waiting for wires to clear.
It can earn interest
Unlike payment stablecoins, which can't pay holders interest under the GENIUS Act, a bank can pay interest on a tokenized deposit. SoFi's SOFIE is one example.
Tokenized deposits vs. stablecoins vs. high-yield savings
A side-by-side look at the three kinds of "digital dollars" you will hear about.
| Tokenized deposit | Payment stablecoin | High-yield savings | |
|---|---|---|---|
| Who issues it | A bank | A permitted stablecoin issuer (often a non-bank or a bank subsidiary) | A bank (or a fintech that sweeps cash to partner banks) |
| What it is legally | A bank deposit, recorded on a blockchain | A digital asset backed 1:1 by reserves. Not a deposit | A bank deposit |
| Can it pay interest? | Yes, if the bank chooses to | The issuer can't pay interest just for holding it (GENIUS Act). Some platforms offer separate "rewards" | Yes |
| Typical rate (Oct 2026) | SoFi Earn 4.40% APY; most products don't publish a rate | About 3–4.5% in platform rewards; DeFi rates float | About 3.2–3.65% APY standard at top online banks; national average 0.38% |
| FDIC insured? | Can be, up to limits, if it's a deposit at an FDIC-insured bank | No | Yes, up to limits, at FDIC-insured banks |
| Main risks | Rate changes, limited access, technology and wallet errors | Platform failure, depeg, rewards ending, hacks, no deposit insurance | Rate changes, promo rates expiring, balances over insurance limits |
| Moves 24/7? | Yes, within the bank's network or a supported blockchain | Yes, on public blockchains | Usually limited to banking hours and payment networks |
| Who can use it today | Mostly institutions. SoFi Earn is rolling out to consumers | Anyone with a supported wallet or exchange (some states excluded) | Anyone |
Frequently asked questions
What is a tokenized deposit?
A tokenized deposit is a regular bank deposit that is recorded as a digital token on a blockchain. The money is still a deposit at the bank that issued it, so it is the bank's liability, and it can move 24/7 on blockchain rails instead of only during banking hours.
Are tokenized deposits FDIC insured?
They can be. A tokenized deposit at an FDIC-insured bank that meets the legal definition of a deposit is generally insured up to the standard limit of $250,000 per depositor, per insured bank, per ownership category, and that limit is shared with your other deposits at the same bank. SoFi says its SOFIE tokenized deposit is FDIC insured up to applicable limits. Insurance protects you if the bank fails. It does not cover stablecoins, crypto, or losses from a hacked wallet or a mistaken transfer.
How is a tokenized deposit different from a stablecoin?
A tokenized deposit is a bank deposit, so it can earn interest and can be FDIC insured. A payment stablecoin is issued by a regulated stablecoin issuer and backed by reserves. Under the GENIUS Act it is not FDIC insured, and the issuer may not pay holders interest just for holding it. The GENIUS Act's definition of a payment stablecoin specifically excludes bank deposits, including deposits recorded on a blockchain.
What is the best tokenized deposit rate right now?
As of October 20, 2026, SoFi Earn (SOFIE) pays a variable 4.40% APY and is the only consumer tokenized deposit we have found with a published rate. Bank products from J.P. Morgan, Citi, and HSBC are for institutional clients and do not publish rates. Check the table above for the date and source of every number.
Can I open a tokenized deposit account as an individual?
Today, only a few options are open to individuals. SoFi Earn is rolling out to SoFi Crypto members through November 2026. JPM Coin, Citi Token Services, and HSBC's Tokenized Deposit Service are limited to eligible corporate and institutional clients.
Should I keep savings in a stablecoin or a high-yield savings account?
They are different products. A high-yield savings account at an FDIC-insured bank is a deposit that is insured up to $250,000 per depositor, per bank, per ownership category. Stablecoins are not deposits and are not FDIC insured, and their rewards are paid by the platform and can change or end. Stablecoin rewards can look similar to savings rates, but they come with platform, depeg, and hacking risk. This is general education, not advice.
How do you make money?
We may earn a commission if you open an account through some links, and we may show ads. That never changes the rates we report. Every rate links to its public source. See our Disclosures page for details.