SoFi launched FDIC-insured tokenized deposits (SOFIE) paying 4.40% APY convertible to SoFiUSD stablecoin; The Clearing House selected Quant for interop layer powering $2T+ daily clearing, driving QNT +15% and $784M futures volume.
DeFi & Yields ·
SoFi launched SOFIE, a tokenized deposit product offering 4.40% APY and FDIC insurance, with each token representing $1 on deposit at SoFi Bank and convertible 1:1 into SoFiUSD stablecoin for onchain transactions. The offering targets an identified pool of roughly $64B, or 21.2% of stablecoins sitting idle in inactive wallets according to Federal Reserve research cited by SoFi.
The Clearing House selected Quant in September to operate the interoperability layer for a tokenized deposit network spanning RTP and CHIPS rails, which process over $2T daily, with a planned launch in the first half of 2027. Separately, JPMorgan's deposit token has operated on Base since November 2025, and five regional banks including Huntington, M&T, and KeyBank are building on ZKsync through the Cari network. QNT, the token associated with Quant, climbed roughly 15% in 24 hours to near $213, driven primarily by futures activity of $784M against $85M in spot volume, with open interest rising 22% on Binance and 38% on Bybit.
A significant ambiguity persists: SoFi's announcement does not reference Quant by name, and The Clearing House has not mentioned the QNT token. No mechanism explicitly ties network fees to the token itself, and supply counts diverge across trackers—CoinGecko reports 14.56M circulating tokens valued at $3.10B, while CoinGlass shows 12.07M at $2.59B. Whether tokenized deposit infrastructure requires QNT or only Quant as a service provider remains unresolved.