U.S. SoFi Bank is moving to support XRP deposits, allowing XRP investors to use the token through a regulated banking platform.

On April 22 local time, blockchain outlet The Crypto Basic reported that SoFi confirmed users can deposit XRP along with bitcoin, ether and solana. The feature is part of its cryptocurrency service that lets users buy, sell or store digital assets within a single app.

Ripple also said in a post on X, formerly known as Twitter, that "expanding accessibility is key to long-term growth." Ripple stressed that enabling XRP use on platforms such as SoFi can bring more users into the ecosystem and strengthen overall utility. It viewed the expansion of XRP use in terms of widening access channels rather than price or short-term demand.

SoFi's structure also stands out. SoFi runs the service through SoFi Bank, a nationally chartered bank regulated by the U.S. Office of the Comptroller of the Currency (OCC). It said the move is meaningful because XRP access is coming under the traditional financial regulatory framework rather than a crypto-only platform. Users can trade supported assets after adding funds to their SoFi crypto account.

Under its trading model, cash deposits are converted into a stablecoin such as USD Coin to execute trades. SoFi charges a 1 percent fee on all cryptocurrency trades. It said execution prices may include a small spread, the difference between the market price and the actual execution price. SoFi explained that this structure helps fix the price at the time of an order so trades can be carried out smoothly.

The account-opening process is relatively simple. Users need to submit basic identity verification information such as their name, address and Social Security number, and it said there are no account-opening fees or monthly maintenance fees. With XRP support added, SoFi users now have a way to access XRP through a bank-based app rather than a separate cryptocurrency exchange.

The move also aligns with a broader trend of XRP flowing into mainstream financial platforms. Japan's Rakuten added XRP to its ecosystem last week through Rakuten Wallet and began supporting payment, trading and point conversion functions. Exodus expanded support for the XRP Ledger, strengthening wallet tools and RLUSD integration.

Bitget Wallet also introduced practical features such as XRP Ledger-based payments and cross-chain functions, as well as QR and card payments. Binance also expanded XRP Ledger liquidity by supporting deposits and withdrawals of RLUSD and new trading pairs. The trend of XRP widening its touchpoints both inside and outside exchanges is continuing.

SoFi's support for XRP deposits can be seen as an example showing XRP expanding beyond crypto-only services and moving into regulated financial platforms. Going forward, XRP's growth prospects are expected to become clearer depending not only on price moves, but also on how widely actual accessibility and usage channels expand across banking, payments and wallet services.

More access to $XRP with @SoFi means more people can participate, and that's exactly how utility grows. https://t.co/IqxZGvM4cJ