SoFi Bank Adds XRP Deposits to Regulated Crypto Platform

Table of Contents SoFi Bank has enabled XRP deposits within its crypto platform, expanding regulated access for retail customers. Ripple welcomed the move and linked broader availability to long-term ecosystem growth. The update allows users to fund accounts, trade digital assets, and manage holdings in one app. SoFi confirmed that customers can now deposit XRP through its crypto service. The platform already supports Bitcoin, Ethereum, and Solana. Therefore, users can manage multiple assets within a single mobile application. More access to $XRP with @SoFi means more people can participate, and that's exactly how utility grows. 📶 https://t.co/IqxZGvM4cJ — Ripple (@Ripple) April 21, 2026 The company operates through SoFi Bank, N.A., which the Office of the Comptroller of the Currency regulates. This structure places XRP access inside a federally chartered banking framework. As a result, customers interact with the asset through a regulated financial institution. Ripple addressed the development in a post on X. The company stated that “broader access is key to long-term growth.” It added that availability through platforms like SoFi helps strengthen XRP’s utility and ecosystem participation. SoFi explained that users must fund a SoFi Checking and Savings account before trading. After funding, the platform converts cash into stablecoins such as USDC to execute transactions. This process allows trades to settle efficiently within the system. The company charges a flat 1% fee on every crypto trade. The execution price may include a small spread between market and transaction prices. This structure locks in rates when users place orders. Customers can open accounts without monthly maintenance or opening fees. The process requires identity verification, including name, address, and Social Security number. Consequently, the onboarding process follows standard banking compliance procedures. Ripple highlighted that expanding access supports long-term ecosystem development. The company said easier entry points encourage broader participation in the network. It maintained that utility grows as more platforms integrate the asset. Rakuten recently added XRP support through Rakuten Wallet. The integration allows payments, trading, and loyalty point conversion within its ecosystem. Therefore, millions of users can access XRP services directly. Exodus also expanded support for the XRP Ledger within its wallet services. The company introduced enhanced wallet tools and RLUSD integration. These updates increase functionality for users holding XRP-based assets. Bitget Wallet integrated XRPL payment options and cross-chain features. The wallet also enabled QR-based payments and card transactions using XRPL infrastructure. Binance also expanded XRPL liquidity with RLUSD deposits, withdrawals, and new trading pairs. SoFi’s integration now places XRP within another mainstream financial channel. The bank confirmed deposit support as part of its existing crypto offering. With this rollout, customers can access XRP directly through a regulated banking app. Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.