SoFi Bank Welcomes XRP as Ripple Says Access Is How Utility Grows

Ripple recently highlighted a new step in XRP adoption after SoFi added support for XRP deposits.

The move opens the door for more users to interact with XRP through a regulated banking platform.

In a post on X, Ripple said that broader access is key to long-term growth. It stressed that making XRP available through platforms like SoFi allows more people to participate in the ecosystem and strengthens its overall utility.

Key Points

• SoFi adds XRP deposits, expanding access to the asset through a regulated banking platform for everyday users.
• Ripple says broader access is key to growth, helping strengthen XRP’s utility and ecosystem participation.
• SoFi enables XRP trading with a simple 1% fee, using stablecoins like USDC to execute transactions.
• XRP adoption grows as Rakuten, Exodus, Bitget, and Binance expand support across payments and trading.

SoFi Brings XRP Into Its Crypto Offering

Ripple’s tweet comes as SoFi confirmed that users can now deposit XRP alongside other major cryptocurrencies such as Bitcoin, Ethereum, and Solana.

The feature is part of its expansive crypto service, which allows customers to buy, sell, and hold digital assets within a single app.

The company operates through SoFi Bank, N.A., a nationally chartered bank regulated by the Office of the Comptroller of the Currency. This regulatory positioning is notable, as it places XRP access within a more traditional financial framework compared to many crypto-native platforms.

How SoFi’s Crypto System Works

A SoFi Crypto account allows users to trade supported crypto assets after funding their account through a SoFi Checking and Savings account. Meanwhile, the platform converts deposited cash into stablecoins such as USD Coin to execute trades.

SoFi charges a simple 1% fee on every crypto trade. The price users receive may include a small “spread,” which is the difference between the market price and the execution price. This helps lock in the rate when placing an order, ensuring the trade goes through smoothly.

Opening an account is also straightforward, requiring basic identity verification such as a name, address, and Social Security number. Notably, the app features no account opening or monthly maintenance fees.

XRP Exposure Expands Through Traditional Channels

The integration highlights a trend of XRP becoming more accessible across mainstream financial platforms. Last week, Rakuten added XRP to its ecosystem via Rakuten Wallet, enabling payments, trading, and loyalty point conversion for millions of users.

Likewise, Exodus expanded XRP Ledger support with enhanced wallet tools and RLUSD integration.

At the same time, Bitget Wallet introduced XRPL payments, cross-chain features, and real-world use cases like QR and card payments. Binance has also boosted XRPL liquidity by enabling RLUSD deposits, withdrawals, and new trading pairs.

With SoFi now supporting XRP deposits, the asset continues to move deeper into traditional finance channels, positioning it for stronger adoption as more users gain direct and simplified access.