Ripple XRP is a digital asset designed to revolutionize cross-border payments by offering fast, low-cost, and secure transactions. Unlike many cryptocurrencies focused on decentralization or speculative trading, XRP is engineered specifically for financial institutions. Its underlying technology—RippleNet—enables banks and payment providers to settle international transfers in real time, using XRP as a bridge currency to improve liquidity and reduce reliance on pre-funded accounts.
As global finance evolves, more banks are exploring blockchain-based solutions to stay competitive. Ripple XRP has emerged as a leading option due to its scalability, speed (transactions settle in 3–5 seconds), and cost-efficiency (fees are fractions of a cent). This article explores which banks across the world have adopted or partnered with Ripple to integrate XRP into their operations, highlighting real-world applications and the growing momentum behind institutional adoption.
Key Benefits Driving Bank Adoption of XRP
Before diving into specific institutions, it's important to understand why banks are turning to Ripple XRP:
- Faster cross-border settlements: Traditional SWIFT transfers can take 3–5 days; XRP-powered transactions clear in seconds.
- Lower operational costs: Eliminates need for nostro/vostro accounts and reduces correspondent banking fees.
- Improved liquidity management: On-Demand Liquidity (ODL) allows instant conversion between currencies via XRP.
- Greater transparency: Real-time tracking of transactions enhances trust and compliance.
These advantages make XRP particularly attractive for remittances, corporate payments, and emerging market corridors where speed and cost are critical.
👉 Discover how financial institutions are leveraging blockchain for faster global transfers.
Banks Using Ripple XRP in the United States
The U.S. remains a hub for fintech innovation, and several major financial players have integrated Ripple’s technology.
PNC Bank, one of the largest banks in the country, uses RippleNet to enable real-time international payments. By leveraging XRP as a bridge asset, PNC offers clients faster settlement times and improved transparency across borders.
MoneyGram, a global leader in money transfer services, has fully embraced Ripple’s On-Demand Liquidity (ODL) solution. This partnership allows MoneyGram to execute near-instant settlements between countries like the U.S. and Mexico, Philippines, or India—dramatically reducing processing times and overhead.
While not a traditional bank, Coinbase plays a crucial role in institutional access to XRP. As one of the most trusted U.S.-based crypto exchanges, Coinbase supports XRP trading, enabling banks and investors to securely acquire and manage the asset.
Additionally, Santander USA utilizes Ripple’s One Pay FX platform for cross-border transfers. Customers benefit from predictable fees, real-time tracking, and delivery within minutes—features powered by XRP’s backend infrastructure.
This wave of adoption signals strong confidence in XRP’s ability to modernize legacy banking systems.
European Financial Institutions Embracing XRP
Europe has been an early adopter of blockchain in banking, with several top-tier institutions integrating Ripple’s network.
Santander, headquartered in Spain but operating globally, launched One Pay FX—a customer-facing app that uses XRP to facilitate same-day international transfers across 18+ countries. The system bypasses traditional intermediaries, cutting costs and improving user experience.
BBVA (Banco Bilbao Vizcaya Argentaria) also adopted RippleNet for outbound payments from Spain to Latin America. The integration reduced transfer times from days to seconds while increasing operational efficiency.
In the UK, Standard Chartered has collaborated with Ripple to pilot blockchain-based payment solutions. The bank sees potential in using XRP for high-volume corridors, especially between Asia and Africa.
Meanwhile, UBS has explored Ripple’s technology for internal liquidity optimization. Though not processing retail payments via XRP yet, UBS recognizes its value in reducing capital tied up in foreign accounts.
These implementations reflect a broader trend: European banks are no longer just experimenting—they’re deploying XRP at scale.
Adoption Across Asia: From Japan to India
Asia leads in practical use cases for XRP-powered remittances, driven by high volumes of cross-border labor migration and digital innovation.
SBI Holdings in Japan is one of Ripple’s longest-standing partners. Through its MoneyTap app, SBI enables instant domestic payments using XRP. The platform is expanding to include cross-border functionality, aiming to serve Japan’s growing digital economy.
In South Korea, Woori Bank joined RippleNet as part of a government-backed initiative to digitize financial infrastructure. The bank uses XRP for real-time settlements with partner institutions in Southeast Asia.
ICICI Bank in India leverages Ripple’s technology for international wire transfers. By integrating ODL, ICICI reduces dependency on pre-funded accounts in foreign currencies—a major pain point for Indian businesses sending or receiving overseas payments.
Even Islamic finance institutions like Kuwait Finance House (KFH) have adopted Ripple’s network. KFH uses XRP to streamline remittances from Kuwait to countries like Indonesia and the Philippines—key destinations for migrant workers.
This regional momentum underscores XRP’s versatility across different regulatory and economic environments.
👉 See how blockchain is transforming international remittances in emerging markets.
Ripple XRP Integration in Australia
Australian banks have shown strong interest in blockchain-driven efficiency gains.
National Australia Bank (NAB) joined RippleNet to improve cross-border payment speeds and reduce costs. NAB’s integration allows corporate clients to send funds internationally with real-time confirmation and lower fees.
Westpac Banking Corporation has piloted Ripple’s technology for retail remittance services. While still in testing phases, early results show significant improvements in transaction speed and customer satisfaction.
Beyond traditional banks, FlashFX, an Australian fintech platform, uses RippleNet and XRP to offer low-cost transfers to over 40 countries. Their model demonstrates how non-bank entities can leverage XRP to compete with legacy systems.
Additionally, SBI Australia, linked to Japan’s SBI Group, is working to bring MoneyTap-style instant payments to Australian users—further expanding Ripple’s footprint in Oceania.
South American Institutions Leveraging XRP
Latin America’s high remittance volumes make it ideal for XRP adoption.
Banco Santander operates Ripple-powered transfers across Brazil, Argentina, and Chile. Customers experience faster delivery times and better exchange rates compared to traditional methods.
In Brazil, Banco Rendimento uses RippleNet for USD-to-BRL conversions, enabling rapid settlement without maintaining large U.S. dollar reserves.
Itaú Unibanco, Brazil’s largest private bank, has joined RippleNet to explore real-time cross-border solutions. The bank aims to enhance services for millions of customers who rely on international transfers.
Meanwhile, platforms like SendFriend use XRP to connect South America with the Philippines—an essential corridor for overseas worker remittances. These services offer lower fees than Western Union or MoneyGram.
African Banks and Fintechs Adopting XRP
Africa’s underbanked population benefits greatly from efficient digital payment rails.
Standard Bank Group, Africa’s largest lender by assets, has partnered with Ripple to modernize cross-border payments across Africa and into Europe/Asia.
Egyptian National Bank uses Ripple’s network to improve remittance inflows from expatriates—a vital source of national income.
Fintechs like BitPesa (now part of AZA Finance) were early adopters of XRP for pan-African transfers. They use ODL to move money between Kenya, Nigeria, Ghana, and South Africa with minimal friction.
Even Tether (USDT) has expanded into Africa via RippleNet, allowing users to transact stablecoins using XRP as a settlement layer—boosting liquidity and accessibility.
Frequently Asked Questions
What is Ripple XRP used for in banking?
XRP serves as a bridge currency in cross-border transactions, enabling instant settlement between different fiat currencies without pre-funding accounts.
Are major global banks really using XRP?
Yes—banks like Santander, Standard Chartered, ICICI Bank, and PNC use Ripple’s network, often leveraging XRP through On-Demand Liquidity (ODL).
Is XRP replacing SWIFT?
Not entirely—but it complements and improves upon SWIFT by offering real-time settlement. Many banks use both systems depending on the corridor.
Can any bank adopt Ripple XRP?
Any financial institution can join RippleNet, but full ODL integration requires regulatory approval and technical readiness.
How does XRP reduce transaction costs?
By eliminating intermediary banks and reducing capital locked in foreign accounts via instant liquidity provision.
Is XRP safe for banks to use?
Yes—RippleNet provides enterprise-grade security, compliance tools, and audit trails tailored for regulated institutions.
👉 Learn how financial innovators are building the future of global payments.
Final Thoughts
The global banking landscape is shifting—and Ripple XRP is at the heart of this transformation. From PNC Bank in the U.S. to Standard Bank in Africa, institutions are harnessing XRP’s speed, efficiency, and cost-saving capabilities to modernize international finance.
While adoption varies—from full ODL integration to pilot programs—the trend is clear: blockchain-powered payments are no longer theoretical. They’re live, scalable, and delivering measurable value.
As more banks recognize the limitations of legacy systems, expect wider integration of XRP across new markets and corridors. The future of banking isn’t just digital—it’s decentralized, instant, and powered by assets like XRP.