SoFi Adds XRP for 13.7 Million Customers, But Users Can't Withdraw Crypto
SoFi, a U.S. bank, added XRP deposits for its 13.7 million customers, making it the first nationally chartered bank to offer XRP alongside Bitcoin, Ethereum, and Solana. However, users cannot withdraw crypto to external wallets, leading to criticism that it's an ETF-like offering without real ownership. This move may benefit XRP's price but does not contribute to the XRP Ledger's transaction volume.
Topics: Crypto Custody ETF Retail Banking SoFi XRP XRP Ledger