SoFi Launches XRP Deposits, but Faces User Criticism Over Withdrawal Restrictions

Odaily News SoFi announced that its crypto business now supports XRP deposits, but the temporary inability to withdraw XRP to external wallets has sparked user dissatisfaction.

Currently, users can only hold or trade XRP within the platform and cannot transfer it out to on-chain wallets. This design has been criticized by some users as an "ETF-like model," arguing that it only provides price exposure without truly connecting to the crypto ecosystem.

SoFi stated that it will enable withdrawal functionality in the future but has not provided a specific timeline.