What Banks Use XRP? Here's the List and the Latest XRP Adoption

As time goes by, XRP is increasingly recognised by financial institutions and institutions around the world, especially banks in the world.

The latest development, Ripple, the company that houses XRP, has received approval from the Dubai financial authorities regarding the use of the RLUSD stablecoin.

The high adoption rate of XRP certainly leaves a question: Which banks have used XRP, or at least have collaborated with XRP? 

List of Banks that Use XRP

Since 2016, XRP has begun to be used by several institutions and banks. 

Then, each year, it appears that the formal adoption rate of XRP continues to grow. Here is a detailed list of banks that have used XRP.

1. SBI Holdings (Japan)

SBI Holdings stands as one of Ripple’s earliest and most committed partners, having established a significant relationship with Ripple since 2016. 

As a leading financial conglomerate in Japan, SBI viewed XRP not merely as a digital asset but as a transformative solution for Japan’s remittance infrastructure. 

Their investment in Ripple and heavy involvement in XRP stemmed from the vision to eliminate inefficiencies in cross-border transactions, reduce settlement times, and lower fees associated with international payments. 

SBI even formed a joint venture, SBI Ripple Asia, to expand RippleNet usage throughout East Asia.

Read Also: XRP Prediction - Ripple (XRP) Price Forecasts for 2025-2050

2. Santander Bank (Spain)

Santander began its adoption of Ripple technology in 2018 with the launch of One Pay FX, a retail-facing app that leveraged Ripple’s infrastructure. 

The bank’s primary goal was to offer faster, more transparent, and cost-effective international payment services. 

By enabling same-day or next-day cross-border transfers, a major improvement over traditional banking timelines, Santander positioned itself as a tech-forward institution capable of meeting modern customer expectations in international finance.

3. PNC Bank (USA)

In 2018, PNC Bank became the first major U.S. bank to join RippleNet. As one of the top ten banks in the United States by assets, PNC saw Ripple’s technology as a tool to streamline cross-border payments for its large base of commercial clients. 

The bank's decision was driven by the need to enhance operational efficiency, reduce transaction time, and offer competitive international payment services. 

This move marked a significant endorsement of Ripple’s legitimacy among traditional U.S. financial institutions.

4. American Express (USA)

American Express partnered with Ripple in 2017 to boost the efficiency of B2B cross-border payments, especially between the U.S. and the UK. 

With Ripple’s blockchain-backed system, American Express aimed to move away from outdated, slow, and costly SWIFT-based transfers. 

The partnership allowed for instant, traceable, and low-fee transactions, reinforcing American Express’s reputation for innovation in the payments sector.

5. Standard Chartered (UK)

Standard Chartered joined RippleNet in 2016 as part of its strategy to modernize international payments, particularly in emerging markets like India and Southeast Asia. 

The bank leveraged Ripple’s technology to offer real-time settlements and enhanced transparency for cross-border transactions. 

This adoption aligned with Standard Chartered’s digital transformation goals and its commitment to serving underbanked regions with efficient financial services.

Read Also: XRP Global Adoption Report

6. Bank of America (USA)

Bank of America has reportedly been experimenting with Ripple's blockchain since 2016, though full public confirmation of XRP usage has been cautious due to the U.S. regulatory climate. 

Nonetheless, internal reports suggest that the bank tested Ripple's solutions to improve the speed and cost-effectiveness of global payments. 

Their interest is part of a broader initiative to modernize infrastructure and stay ahead of fintech disruptions.

7. MUFG Bank (Japan)

MUFG, one of the largest banks in Japan, officially joined RippleNet in 2017. The bank aimed to enhance its cross-border services by leveraging Ripple’s near-instant settlement capabilities.

For MUFG, the appeal of Ripple lay in reducing settlement times from days to seconds, offering transparency in payment flows, and minimizing costs, key factors for maintaining a competitive advantage in Asia’s growing financial ecosystem.

8. Banco Rendimento (Brazil)

In 2019, Banco Rendimento integrated with RippleNet, focusing primarily on enhancing its remittance services within Latin America. 

With a growing number of Brazilian migrants sending money home or abroad, Banco Rendimento sought a solution that would offer real-time, reliable transactions. 

Ripple’s technology provided a robust infrastructure to serve this market efficiently, while opening access to new corridors for international money movement.

Read Also: Massive XRP Adoption Will Happen in Japan by 2025

9. Axis Bank & Kotak Mahindra Bank (India)

Both Axis Bank and Kotak Mahindra Bank implemented Ripple’s solutions in 2017 to improve international remittance services.

At the time, India was one of the largest recipients of remittances globally, and the need for fast, transparent, and low-cost payment systems was pressing. 

These banks chose Ripple to address delays and excessive costs inherent in legacy systems like SWIFT, enabling better customer experiences and competitive positioning in the fintech space.

10. National Bank of Fujairah (UAE)

The National Bank of Fujairah adopted RippleNet in 2019 to improve its cross-border transaction services. 

Operating in a region where international trade and remittances are crucial, the bank saw Ripple’s blockchain as a way to provide faster settlements and real-time payment tracking. 

This integration supported the UAE’s broader push toward fintech innovation and blockchain-friendly banking environments.

Latest XRP Adoption

In addition to the above list of banks that have used XRP, in 2025, XRP also penetrated the business quite brilliantly.

Japan’s Full-Scale XRP Integration

Japan is leading the charge in embracing XRP on a national scale. By the end of 2025, nearly all Japanese banks are expected to fully adopt Ripple’s XRP-based payment systems.

This widespread integration is being driven by SBI Holdings, Ripple’s long-time ally and a major financial force in Asia. 

SBI has long championed Ripple's technology as the future of remittances and cross-border finance. 

The Bank of Japan has also officially endorsed XRP for use in international transactions, further validating its reliability and role in Japan’s evolving financial ecosystem.

Global Partnerships and Institutional Moves

Ripple continues to build momentum globally through major acquisitions and high-impact partnerships:

1. Hidden Road Acquisition

Ripple recently announced its intent to acquire Hidden Road, a well-established prime brokerage firm, in a deal valued at $1.25 billion. 

This strategic move is designed to integrate institutional finance workflows directly into the XRP Ledger, significantly boosting Ripple’s capabilities in the DeFi and post-trade settlement space.

2. Revolut and Zero Hash Collaboration

Ripple has expanded its reach in the digital payments space by partnering with platforms like Revolut and Zero Hash. 

These collaborations enable trading and transfers using Ripple’s new stablecoin RLUSD, giving XRP new utility alongside major players like USDT and USDC.

3. Portugal-Brazil Corridor with Unicâmbio

In Europe, Ripple joined forces with Unicâmbio, a financial services provider in Portugal.

Together, they’ve created a real-time payment bridge between Portugal and Brazil, using Ripple’s blockchain technology to facilitate seamless remittance flows across continents.

Developments in the United States

1. SEC Lawsuit Resolution

One of the most critical breakthroughs for Ripple in the U.S. was the official conclusion of its long-standing legal battle with the U.S. 

Securities and Exchange Commission (SEC). This resolution brought long-awaited regulatory clarity to XRP, restoring market confidence and opening doors to more widespread adoption across American financial institutions.

Read Also: How to Buy XRP (XRP)

2. Growing Bank Interest in XRP and RLUSD

With legal uncertainties now resolved, Ripple President Monica Long reported a marked increase in interest from U.S.-based banks. 

Many are now exploring the integration of XRP and RLUSD into their systems to modernize outdated financial infrastructure, improve settlement times, and lower operational costs.

Final Note

In 2025, XRP has become more than just a cryptocurrency, it’s now a trusted tool used by many banks around the world to make cross-border payments faster, cheaper, and more transparent.

Banks like SBI Holdings (Japan), Santander (Spain), PNC Bank (USA), MUFG (Japan), and Standard Chartered (UK) are using Ripple’s network powered by XRP.

They chose XRP because it can complete international money transfers in just seconds, costs less than traditional systems like SWIFT, and offers real-time tracking of transactions.

Recently, XRP adoption has grown even more. Japan is leading the way, with plans for almost all banks in the country to use XRP by the end of 2025. This effort is being led by SBI Holdings, with support from the Bank of Japan.

In the United States, Ripple won its legal case against the SEC, which has encouraged U.S. banks to start using XRP again. Ripple’s President even shared that more banks are now exploring how XRP and Ripple’s stablecoin RLUSD can be used in everyday banking.

Ripple also made a big move by buying Hidden Road, a financial services company, to help bring XRP technology to institutional markets.

At the same time, Ripple is working with partners like Unicâmbio in Portugal, Revolut, and Zero Hash to expand XRP use for global money transfers and stablecoin trading.

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FAQ

1. Which banks are currently using XRP for cross-border payments?

Several major banks, including SBI Holdings (Japan), Santander (Spain), PNC Bank (USA), MUFG Bank (Japan), and Standard Chartered (UK) are using Ripple’s XRP-powered solutions for fast and low-cost international money transfers.

2. Why do banks choose to use XRP instead of traditional systems like SWIFT?

Banks use XRP because it enables instant settlement, lower transaction fees, and real-time tracking, unlike traditional systems like SWIFT, which can take days and involve multiple intermediaries.

3. Is XRP legally approved for use by U.S. banks?

Yes. In 2025, Ripple won its long legal battle with the U.S. Securities and Exchange Commission (SEC), giving XRP regulatory clarity and opening the door for U.S. banks to use it legally.

4. What is Japan’s plan for XRP adoption in 2025?

Japan plans to adopt XRP across almost all domestic banks by the end of 2025, driven by SBI Holdings and supported by the Bank of Japan to modernize its financial infrastructure.

5. What recent partnerships have boosted XRP adoption globally?

Ripple recently acquired Hidden Road for $1.25 billion, and formed new partnerships with Revolut, Zero Hash, and Unicâmbio to expand XRP use in institutional finance and global remittances.