SoFi adds XRP support but faces withdrawal backlash

SoFi adds XRP support for deposits and tracking, joining Bitcoin, Ethereum, and Solana. Withdrawal limits on XRP have sparked user backlash over restricted access to external wallets.

SoFi, a US-based fintech platform, has expanded its cryptocurrency offerings by adding support for XRP deposits and portfolio tracking. XRP now joins Bitcoin, Ethereum, and Solana on the platform, allowing SoFi’s 13.7 million users to deposit, buy, sell, and store XRP directly within the app. This integration brings digital assets closer to everyday financial management and marks a notable step toward mainstream crypto adoption. However, SoFi has faced user backlash due to restrictions on XRP withdrawals to external wallets. Many customers have expressed dissatisfaction, comparing these limitations to those seen with spot ETFs. The restriction effectively confines XRP holdings within the SoFi ecosystem, highlighting ongoing tensions between traditional financial services and the decentralized principles of cryptocurrency. Despite the controversy, SoFi’s gradual expansion of crypto services continues to make digital assets more accessible to mainstream users, bridging the gap between traditional banking and the evolving world of digital assets.