As XRP continues to expand globally, it has received positive news from the US.
According to The Block, US-based fintech platform SoFi has announced that it has enabled XRP investment.
However, SoFi has enabled XRP deposits and portfolio tracking support in its application, allowing users to manage their XRP directly in their accounts.
“We are excited to now support XRP deposits, alongside some of the most popular coins like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).”
This has expanded access to regulated cryptocurrencies for individual users in the US.
Furthermore, SoFi’s move has brought XRP onto a nationally licensed banking platform.
In contrast, while SoFi announced support for XRP deposits, it faced user complaints for not enabling withdrawals to external wallets. Users criticized SoFi for not allowing its customers to withdraw their cryptocurrencies to external wallets.
One user, X, stated that the service offered by SoFi is essentially no different from spot ETFs.
The user commented, “SoFi doesn’t allow XRP withdrawals. It’s basically just a spot ETF. It doesn’t benefit the XRP ecosystem at all.”
In response to these criticisms, the company stated that they also plan to support withdrawal functionality in the future.
Ripple celebrated this move with the following statement:
“With SoFi, increased access to XRP means more people can participate, and that’s exactly how the benefit increases.”
*This is not investment advice.
