SoFi Expands Crypto Offering With XRP, Faces Mixed Reactions
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SoFi becomes the first U.S. nationally chartered bank to enable buy/sell/hold of XRP in‑app, adding XRP alongside BTC, ETH and SOL — a notable adoption milestone for crypto and bank-led custody services. Listing is custodial with no withdrawal support, so customers get price exposure not native XRP; Ripple hailed it as growing utility while critics warn limited custody, reduced utility and muted market impact.
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- SoFi becomes the first US national chartered bank to let users buy, sell, and hold XRP in one app.
- Ripple praised the move as a step toward broader access and growing real-world XRP utility.
- Critics flag that no withdrawal support means users get price exposure, not actual XRP access.
One of America’s fintech banks has now added XRP to its platform, and the community reactions have been mixed.
SoFi, the first nationally chartered bank in the US to offer crypto trading, announced that customers can now deposit and hold XRP alongside other major coins like Bitcoin, Ethereum, and Solana. The move was quickly welcomed by Ripple, which called it a step toward broader participation and growing utility for XRP.
“More access to XRP with SoFi means more people can participate, and that’s exactly how utility grows,” Ripple posted in response to the announcement.
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