XRP is a popular cryptocurrency developed by Ripple Labs in 2012. Over the years, XRP has grown significantly in popularity and has now captured the attention of many analysts and investors, leading Ripple to secure numerous partnerships that will further attract attention to this coin. XRP is committed to fostering active development, bridging the gap between cryptocurrencies and fiat currencies, and helping businesses.
2026 brings a new, more prosperous environment for XRP and Ripple, now that they have clearer legal clarity and are offering the best conditions for making cross-border payments more efficient. So, you shouldn’t be surprised if you hear on the XRP news today that a company decided to buy XRP and benefit from new partnerships.
Which Banks Are Using the Services of Xrp and Ripple?
Ripple has attracted the attention of major banks worldwide, which have begun using its technology. Among these partnerships, we can mention partnerships with global banks, which are of tremendous importance. Ripple’s largest partner is SBI Holdings, which began considering Ripple’s offerings in 2016.
Another important bank is Santander, a large European bank that uses RippleNet in its operations. This application enables customers to send international payments more efficiently, with near-instant settlement times. Below, we will explore Ripple’s partnerships by looking at specific banks. Keep reading to learn more.
Asian-Pacific Financial Institutions
- SBI Holdings (Japan)
- UnionBank (Philippines)
- Axis Bank (India)
- Vietcombank (Vietnam)
- Woori Bank (South Korea)
- ChinaBank (Philippines)
- Shinhan Bank (South Korea)
- Commonwealth Bank of Australia
- Siam
As you can see, Ripple has established a reputation among Asian-Pacific financial institutions. Axis Bank, based in India, considered Ripple’s services in 2017, positioning it to offer advanced blockchain-based cross-border services.
Another important bank in this region is UnionBank in the Philippines, which uses ODL and RippleNet to offer instant money transfers and improved remittance services. There are numerous reasons companies in this region are using Ripple’s offerings. The first is that it enables faster settlement times than traditional cross-border payments, which usually take 2-5 business days. But Ripple is improving significantly, and transactions are settled in 3-5 seconds.
Additionally, many countries in this region have high remittance volumes, such as Vietnam, Thailand, and the Philippines, and they need a better solution that delivers a great experience for people. Ripple is recognized for this approach, which is lowering costs for migrant workers.
North America
- Canadian Imperial Bank of Commerce (CIBC)
- PNC Financial Services (USA)
- Cross River Bank (USA)
- American Express (USA)
- Frankenmuth Credit Union (USA)
- Cross River Bank (USA)
Financial institutions in North America are also interested in Ripple’s technology, as it helps their banks modernize their systems and address shortcomings in traditional SWIFT payment systems. North America is always looking to revolutionize its companies’ experiences, so banks in this region have considered Ripple for the many advantages it offers businesses worldwide.
Ripple provides greater transparency and security, enabling both banks and customers to better understand their institutions and funds. Now, banks in this region are even more open to considering Ripple’s offerings, especially following the end of the SEC lawsuit, which put Ripple in a favorable position. So, companies and banks in this region are now more inclined to consider Ripple and have more reasons to continue working with it.
Latin America
- Rendimento Bank (Brazil)
- Travelex Bank (Brasil)
- Interbank (Peru)
Especially in Latin American countries, Ripple’s services have proved essential, as these regions have faced many shortcomings of the traditional banking system (SWIFT), such as slowness, high costs, and numerous inefficiencies. This is why they are using On-Demand Liquidity (ODL) and Ripple Payments: these solutions address their shortcomings.
With the help of Ripple, the money transfer occurs in a few seconds, and in this way, they won’t need to wait for more days. Plus, the costs are lower, which is always a great advantage. Ripple services, including XRP, are acting as a bridge currency, closing the big gap between them. With this approach, institutions can convert their funds into XRP and then back into fiat, boosting liquidity and reducing fees.
Middle East
- National Bank of Fujairah (UAE)
- Zand Bank (UAE)
- Qatar National Bank (Qatar)
- AL Ansari Exchange (UAE)
- Riyadh Bank (Saudi Arabia)
- RAKBANK (UAE)
The banks in the Middle East want to modernize their offerings with Ripple’s solutions, which enable cheaper, faster, and more transparent transactions. Additionally, Ripple has support from companies in this region, including the Dubai Financial Services Authority (DFSA), which approved Ripple to bring its solutions to the UAE. This is why many banks in this region have begun partnering with Ripple. This approach also aligns with the future needs and goals of the countries in this region. For instance, Riyadh Bank’s Jeel in Saudi Arabia has set a goal under Vision 2030 to focus on economic diversification, digital transformation, and modernizing the legacy financial infrastructure. And the good news is that Ripple supports this approach.
The Bottom Line
Many banks have adopted Ripple and XRP services, which address common problems in traditional banking. For example, these services required two to five business days to complete the transactions. Additionally, banks needed to have pre-established foreign-currency accounts, which led customers to incur higher costs. But XRP acts as a bridge between fiat currencies and cryptocurrencies, which offers more opportunities.
Ripple’s offerings have three main advantages that set it apart: cost savings, speed, and capital efficiency. In this way, Ripple maintains a competitive advantage and has formed partnerships with businesses worldwide, including in North America, Latin America, Asia, and Europe.
The end of the SEC lawsuit against Ripple has strengthened its position and attracted more attention.
