SoFi Enables XRP Deposits for U.S. Users on Platform

• SoFi now supports XRP deposits alongside major assets, integrating it into a regulated OCC-backed banking platform.
• Users can manage multiple cryptocurrencies in one app, though withdrawals to external wallets remain restricted.
• Institutional interest in XRPL rises, with tokenized value growth and engagement from major financial firms.

SoFi Technologies confirmed on April 21 that it now supports XRP deposits, expanding crypto access for U.S. retail users. The update places XRP within a nationally chartered bank platform regulated by the OCC. The move allows users to deposit XRP alongside bitcoin, ethereum, and solana, integrating the asset into a regulated financial environment.

Crypto Deposit Options Expand Across Networks

Notably, SoFi said users can now deposit 12 cryptocurrencies into its crypto accounts. These include bitcoin, ethereum, USD Coin, chainlink, and XRP. The platform supports transfers across major blockchain networks, including Bitcoin, Ethereum, Solana, and the XRP Ledger.

However, the company maintains restrictions on withdrawals to external wallets. Users can still manage holdings within a single application, covering trading and portfolio tracking. Additionally, SoFi offers trading access to 27 cryptocurrencies, including dogecoin, cardano, avalanche, and stellar.

This broader support shows a multi-asset approach within one retail-focused platform. Meanwhile, SoFi highlighted portfolio management as a central feature tied to its crypto infrastructure.

Ripple Notes Access as Adoption Grows

Ripple acknowledged the update on April 21, linking it to wider participation in digital asset markets. The firm stated that increased access allows more users to engage with XRP. This aligns with ongoing efforts to expand availability through financial platforms.

At the same time, reactions among users remain mixed. Some questioned whether deposits represent direct ownership, citing reliance on the institution. Others pointed to growing adoption as a sign of demand for XRP access.

Institutional Activity Builds Around XRPL

Separately, institutional interest in the XRP Ledger continues to rise. During the Digital Assets Forum 2026 in London, Odelia Torteman confirmed engagement from major firms. These include BlackRock, Mastercard, and Franklin Templeton.

Data shows tokenized value on the network reached about $2.5 billion, up from $1.5 billion. Growth followed a sharp increase in real-world asset activity. XRPL also processes transactions within seconds at low cost, supporting its use in payments and settlement.