SoFi’s XRP listing sparks backlash over withdrawals as Wall Street giants explore XRPL.
The financial platform has introduced support for XRP deposits while preventing transfers to external wallets. The decision has divided opinion among users as institutional activity on the XRP Ledger continues to accelerate.
Retail concerns over access and ownership
SoFi confirmed that users can deposit XRP alongside Bitcoin, Ethereum, and Solana, positioning the update as part of its integrated financial ecosystem. The firm encouraged customers to manage their assets within a single application, highlighting convenience and streamlined portfolio access.
However, the inability to withdraw XRP to external wallets has triggered criticism. Some users argue that the offering limits true ownership since funds remain under platform control. Critics say this structure resembles a price exposure product rather than direct asset custody, which raises concerns about counterparty risk.
Market participants pointed out that users depend on the platform’s stability and compliance to access their holdings. If disruptions occur, customers may face restrictions without alternative control over their assets. This has fueled comparisons to traditional financial instruments that track value without granting direct possession.
Despite these concerns, some users welcomed the listing. Supporters view the move as a step toward broader adoption and increased accessibility. Ripple also endorsed the development, stating that expanded access to XRP could encourage more participation in the ecosystem.
Institutional interest in XRPL gains momentum
The debate over retail limitations comes as institutional engagement with the XRP Ledger grows. Financial institutions are exploring the network for applications such as tokenization, cross-border payments, and stablecoin settlement.
At the Digital Assets Forum 2026 in London, XRPL Commons representatives confirmed interest from major firms including BlackRock, Mastercard, and Franklin Templeton. These companies are assessing the network’s capabilities for large-scale financial operations rather than speculative trading.
Analysts note that XRPL offers advantages in speed and cost efficiency. Transactions settle within seconds, and fees remain minimal, which makes the network suitable for high-volume financial activity. Built-in tools, such as a decentralized exchange and compliance features, reduce the need for additional infrastructure.
Tokenized asset value on the network has increased to around $2.5 billion, reflecting rapid growth in real-world asset activity. This expansion indicates a shift toward practical blockchain use cases driven by institutional demand.
Partnerships expand the XRPL ecosystem
Ripple has continued to strengthen the XRPL ecosystem through partnerships with established financial institutions. Collaborations with Franklin Templeton and DBS Bank have focused on tokenized lending and trading solutions that improve liquidity and efficiency.
The company has also worked with Securitize to enable continuous liquidity for tokenized treasury products. These systems allow investors to convert holdings into RLUSD through automated processes, which enhances flexibility and access.
Mastercard has partnered with Gemini and Ripple to test stablecoin settlement on the network. The initiative aims to demonstrate faster and more efficient payment processing using regulated digital assets.
As institutional activity expands, XRP plays a key role in facilitating value transfer across the network. Demand for the asset may rise with increased usage, although retail users remain focused on control and accessibility.
