VANTAGE · S002
Same Dollar, No Interest as a Stablecoin? SoFi's Tokenized Deposit Explained
A dollar in a U.S. bank account can earn interest; converted into a stablecoin, the issuer may not pay you for holding it. The difference is not in the name: after conversion you hold a different legal product.
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Chapters
- 0:00Opening: the same dollar
- 0:27The ban turns on one word
- 1:23The exception: OCC rule, page 99
- 1:49Conversion: what happens in that moment
- 2:58Banks and stablecoins compete for idle money
- 3:39Ending: a question for you
About this video
A dollar in a U.S. bank account can earn interest; converted into a stablecoin, the issuer may not pay you for holding it. The difference is not in the name: after conversion you hold a different legal product.
Narrated in Chinese with burned-in Chinese subtitles. An English transcript is coming; the written version in English is linked below.
Sources
- OCC 最终规则（2026-10-21），第 99 页
- SoFi Bank 代币化存款账户协议（2026-10-05 版），第 18–19 页；利率表（10-20 生效）
- 美国 GENIUS 法案第 4(a)(11) 条
- 堪萨斯城联储研究（2026-04-10，闲置稳定币比例为作者估算，含丢失资产）
Visuals are illustrations; facts follow the cited sources. Not investment advice. IKOL · AI-assisted research, human-edited.