SoFi Enables XRP Deposits but Restricts Withdrawals, Drawing User Criticism

GateNews
XRP-0.41%

Gate News message, April 21 — SoFi announced that its crypto business now supports XRP deposits, but the platform currently does not allow withdrawals to external wallets. Users can only hold or trade XRP within the platform and cannot transfer tokens to on-chain wallets.

Some users criticized the limitation as an “ETF-like model,” arguing that it merely provides price exposure without true integration into the crypto ecosystem. SoFi stated that withdrawal functionality will be enabled in the future, though the company has not provided a specific timeline.

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