Cross-border banking has historically struggled with a fundamental problem: moving money internationally takes days and costs substantial fees.
XRP emerged as a potential solution, but the real question for investors is whether actual banks are using it or just talking about it.
This guide cuts through the marketing noise to reveal genuine institutional adoption, examining what banks use XRP in live production environments today.
The Real Story Behind Bank XRP Implementation
Understanding Ripple adoption requires distinguishing between three different levels of engagement that often get confused in media coverage.
Some financial institutions joined RippleNet purely for its messaging capabilities, essentially using it as a modern alternative to SWIFT without touching XRP cryptocurrency at all.
Others signed partnership announcements or pilot programs that never progressed to production deployment.
The most meaningful category includes banks actively using On-Demand Liquidity—Ripple’s product that actually moves XRP tokens to settle cross-border payments in real-time.
For investors wondering if XRP is worth investing in, focusing on this third category provides the clearest signal of genuine utility and sustained demand.
Asia-Pacific: Where XRP Adoption Goes Beyond Pilots
Japan’s SBI Holdings stands out as perhaps the most committed institutional player in the entire XRP ecosystem.
Through SBI Remit, the company launched Japan’s first remittance service powered by actual XRP liquidity in 2021, targeting the massive Japan-to-Philippines corridor where millions of Filipino workers send money home.
Rather than remaining a limited pilot, SBI expanded this XRP-powered service to Vietnam and Indonesia by 2023, demonstrating that the technology worked well enough to scale across multiple markets.
The Philippines became an early adoption hub with both UnionBank and ChinaBank implementing ODL for remittance services.
These banks serve millions of overseas Filipino workers who need fast, affordable ways to support families back home—a use case where every dollar saved on fees and every hour saved on processing time genuinely matters.
India’s participation came early, with Axis Bank joining RippleNet in 2017 and establishing partnerships with UAE institutions for India-Gulf payment corridors.
Kotak Mahindra Bank similarly integrated Ripple technology for cross-border operations.
Thailand’s Siam Commercial Bank deployed ODL to support real-time remittances, positioning itself as a regional digital banking innovator.
South Korea contributed Woori Bank and Shinhan Bank to the RippleNet ecosystem, while Vietnam’s Vietcombank explores implementation options.
Australia’s Commonwealth Bank represents developed-market interest through its investigation of Ripple technology.
North American Banks: Cautious but Growing Interest
The United States has seen more measured adoption compared to Asian markets, reflecting tighter regulatory scrutiny and different competitive dynamics.
PNC Financial Services broke ground as America’s first major bank joining RippleNet, focusing on commercial clients who need faster international payment settlement.
The implementation allows business customers to complete cross-border transactions in seconds rather than the traditional multi-day cycle.
Canada entered through Canadian Imperial Bank of Commerce in 2022, implementing ODL for real-time settlement that reduces capital trapped in foreign currency reserve accounts.
American Express partnered with Ripple for business payment solutions, though the company has remained relatively quiet about implementation details.
Cross River Bank serves as a Ripple partner for cross-border payment infrastructure, while Frankenmuth Credit Union offers XRP services at the community banking level.
The relatively limited U.S. adoption reflects regulatory uncertainty that persisted until Ripple’s SEC case concluded in 2025, potentially opening doors for expanded American participation.
Europe, Middle East, and Latin America: Emerging Adoption Centers
Spain’s Santander leverages RippleNet through One Pay FX, its international payment service that delivers near-instant settlement.
The bank primarily uses messaging infrastructure but has explored XRP for specific liquidity applications.
The United Arab Emirates emerged as a Middle Eastern adoption leader when Zand Bank, the country’s first fully digital bank, became Ripple’s UAE client in May 2025.
Al Ansari Exchange, RAKBANK, National Bank of Fujairah, Qatar National Bank, and Riyadh Bank all participate in various Ripple implementations across the Gulf region.
Latin America saw meaningful movement when Travelex Bank in Brazil became the region’s first ODL customer in August 2022.
As a digital-first bank specializing in foreign exchange, Travelex represents strategic positioning in South American remittance markets.
Brazil’s Banco Rendimento and Peru’s Interbank also joined as ODL customers, while South Africa’s Standard Bank integrated RippleNet for African operations.
How XRP Actually Solves Banking Problems
Traditional international payments rely on SWIFT, which takes 2-5 business days because money moves through multiple correspondent banks.
Each institution adds fees and delays, while banks must maintain pre-funded foreign currency accounts that tie up capital.
XRP functions as an instant bridge between currencies, enabling settlement in 3-5 seconds with fees around $0.0002 per transaction.
When SBI Remit sends money from Japan to the Philippines, Japanese yen converts to XRP on one exchange, crosses the XRP Ledger in seconds, then converts to Philippine pesos—all faster than a traditional credit card authorization.
Banks using ODL don’t hold XRP themselves; licensed exchanges handle the buying and selling automatically during each transaction.
This removes cryptocurrency exposure concerns while maintaining the speed and cost benefits.
The XRP Ledger processes up to 1,500 transactions per second currently, with potential scaling to 65,000 TPS through layer-2 solutions.
Why Institutions Choose XRP Over Traditional Rails
Real-time settlement creates competitive advantages in markets where customers expect instant transfers, particularly for remittances.
Cost reduction matters enormously in Latin America and Asia, where traditional fees consume significant percentages of transfer amounts.
Capital efficiency allows banks to redeploy funds previously locked in nostro accounts for lending or investment instead of sitting idle as reserves.
Regulatory clarity improved dramatically after Ripple’s 2025 SEC case resolution, while a $500 million investment from major players including Citadel Securities at a $40 billion valuation signaled institutional confidence.
Frequently Asked Questions
How many banks use XRP versus just RippleNet messaging?
Over 300 institutions joined RippleNet, but only a subset uses actual XRP through On-Demand Liquidity—likely several dozen active ODL customers based on public announcements.
Has XRP replaced SWIFT at participating banks?
No—XRP operates as a complementary fast lane option while banks maintain SWIFT for other transaction types, customer preferences, and regulatory requirements.
What prevents faster adoption in developed markets?
Regulatory uncertainty historically slowed adoption in the U.S. and Europe, though recent clarity may accelerate implementation.
Conclusion: Real Adoption in Targeted Corridors
Genuine XRP adoption concentrates in remittance-heavy corridors across Asia, Latin America, and the Middle East where speed and cost matter most.
SBI Holdings, several Philippine banks, Travelex Brazil, and Gulf institutions demonstrate sustained production usage beyond pilot programs.
North American and European adoption remains more limited but may expand following regulatory clarity.
For those tracking XRP price movements alongside institutional adoption trends, several major centralized exchanges provide access to the asset.
Write and Win: Participate in Creative writing Contest & International Essay Contest and win fabulous prizes.
About the Author
