The word “soyo” is short for so'o josopy, Guaraní words for “meat” (so'o) and “crushed” (josopyre). When the meat is not crushed and instead it is boiled in the soup chopped in little pieces, it called so’o josopy ita'y, which means curdle soup.
References
“Tembi’u Paraguay” de Josefina Velilla de Aquino
“Karú rekó – Antropología culinaria paraguaya”, de Margarita Miró Ibars