⚠️ Important Distinction
Not all RippleNet members use XRP. RippleNet is Ripple's messaging network. ODL (On-Demand Liquidity) is the service that uses XRP as a bridge currency. This page clarifies which institutions use what.
How Banks Use Ripple Technology
Ripple offers different products for financial institutions:
1
RippleNet
Payment messaging network connecting banks. Similar to SWIFT but faster. Does NOT require XRP.
2
ODL
On-Demand Liquidity uses XRP as a bridge currency for instant settlement. THIS uses XRP.
3
Ripple Payments
End-to-end payment solution. Can use ODL/XRP or traditional rails depending on corridor.
🌟 Confirmed ODL Partners (Use XRP)
These institutions actively use XRP for liquidity in cross-border payments:
| Institution |
Type |
Region |
Status |
| SBI Remit |
Remittance |
Japan |
ODL Active |
| SBI VC Trade |
Exchange |
Japan |
ODL Active |
| Tranglo |
Payment Network |
Southeast Asia |
ODL Active |
| Novatti |
Payment Provider |
Australia |
ODL Active |
| Pyypl |
Digital Wallet |
Middle East |
ODL Active |
| iRemit |
Remittance |
Philippines |
ODL Active |
| Azimo |
Remittance |
Europe |
ODL Active |
| Siam Commercial Bank |
Bank |
Thailand |
ODL Active |
| FlashFX |
Payment Provider |
Australia |
ODL Active |
| Modulr |
Payment Platform |
UK |
ODL Active |
| GME Remittance |
Remittance |
South Korea |
ODL Active |
| Lulu Exchange |
Exchange |
Middle East |
ODL Active |
| MoneyGram |
Remittance |
Global |
Former Partner |
📝 Note on MoneyGram
MoneyGram was a major ODL partner from 2019-2021, processing millions in XRP transactions. The partnership ended in 2021 due to the SEC lawsuit against Ripple. As regulatory clarity improves, a renewed partnership isn't out of the question.
🌐 Major ODL Corridors
These are the active payment corridors where XRP is used for liquidity:
🇯🇵 Japan Corridors
🇯🇵
→
🇵🇭
Japan → Philippines
🇯🇵
→
🇹🇭
Japan → Thailand
🇯🇵
→
🇻🇳
Japan → Vietnam
🌏 Asia-Pacific Corridors
🇦🇺
→
🇵🇭
Australia → Philippines
🇸🇬
→
🇹🇭
Singapore → Thailand
🇰🇷
→
🇵🇭
South Korea → Philippines
🇪🇺 Europe/UK Corridors
🇬🇧
→
🇲🇽
UK → Mexico
🇪🇺
→
🇵🇭
Europe → Philippines
🌍 Middle East/Africa
🇦🇪
→
🇵🇰
UAE → Pakistan
🇦🇪
→
🇮🇳
UAE → India
🏦 Major RippleNet Banking Partners
These banks and financial institutions are RippleNet members (may or may not use XRP):
| Bank/Institution |
Country |
RippleNet |
XRP/ODL |
| SantanderOne Pay FX |
Spain/Global |
✓ Confirmed |
Tested |
| SBI Holdings |
Japan |
✓ Confirmed |
ODL Active |
| Standard Chartered |
UK/Asia |
✓ Confirmed |
Exploring |
| PNC Bank |
USA |
✓ Confirmed |
Pilot Only |
| Bank of America |
USA |
RippleNet |
Unconfirmed |
| MUFG Bank |
Japan |
✓ Confirmed |
Pilot Only |
| National Bank of Egypt |
Egypt |
✓ Confirmed |
Exploring |
| Bangkok Bank |
Thailand |
✓ Confirmed |
Exploring |
| Kotak Mahindra Bank |
India |
✓ Confirmed |
Unconfirmed |
| National Bank of Kuwait |
Kuwait |
✓ Confirmed |
Unconfirmed |
| Axis Bank |
India |
✓ Confirmed |
Unconfirmed |
| CIMB Bank |
Malaysia |
✓ Confirmed |
Unconfirmed |
| Banco Rendimento |
Brazil |
✓ Confirmed |
ODL Active |
| Euro Exim Bank |
UK |
✓ Confirmed |
Exploring |
🇯🇵 Japan: The XRP Leader
SBI Holdings in Japan is Ripple's largest banking partner and most active ODL user. SBI has invested heavily in Ripple and processes significant XRP volume through SBI Remit and SBI VC Trade. Japan has the clearest regulatory framework for crypto, enabling this adoption.
🔮 Why Banks Adopt Ripple
✅ Benefits for Banks
- 3-5 second settlement vs 2-3 days (SWIFT)
- 60-80% cost reduction on cross-border
- No pre-funded nostro accounts needed (with ODL)
- 24/7/365 operation vs banking hours
- Real-time tracking and transparency
- Liquidity on demand with XRP
❌ Barriers to Adoption
- Regulatory uncertainty (especially US)
- Compliance concerns holding crypto
- Legacy system integration complexity
- XRP volatility risk management
- Board/stakeholder approval needed
- Existing SWIFT infrastructure investments
📈 What Would Drive More Bank Adoption?
1. Full SEC Clarity
The July 2023 ruling that XRP sales on exchanges aren't securities was a major win. Full resolution of the Ripple case would remove the biggest barrier for US banks and global institutions watching US regulatory signals.
2. XRP ETF Approval
An approved XRP ETF would legitimize XRP as an institutional asset, making it easier for banks to justify holding or using XRP. Multiple issuers have filed including Grayscale, 21Shares, and Bitwise.
3. RLUSD Integration
Ripple's stablecoin RLUSD (launching on XRPL and Ethereum) gives banks a dollar-pegged option that eliminates volatility concerns while still using Ripple's infrastructure.
4. Central Bank Digital Currencies (CBDCs)
Ripple is working with multiple central banks on CBDC pilots. If CBDCs launch on XRPL or interoperate with it, institutional adoption would accelerate dramatically.
❓ Frequently Asked Questions
Which banks use Ripple and XRP?
Over 300 financial institutions use RippleNet. Major banks include Santander, SBI Holdings, Standard Chartered, and PNC. However, only about 30+ institutions actively use ODL which involves XRP. The biggest ODL users are SBI Remit (Japan), Tranglo (Asia), and various remittance providers.
Does Bank of America use XRP?
Bank of America is a RippleNet member and has explored Ripple technology. However, there's no confirmed evidence they use XRP/ODL in production. They may use RippleNet for messaging without XRP liquidity.
Is XRP used by any major US banks?
US bank adoption has been limited due to SEC regulatory uncertainty. PNC Bank was an early RippleNet partner. As regulatory clarity improves post-lawsuit, US bank adoption is expected to increase.
What's the difference between RippleNet and ODL?
RippleNet is Ripple's payment messaging network - similar to SWIFT but faster. It doesn't require XRP. ODL (On-Demand Liquidity) is a RippleNet service that uses XRP as a bridge currency for instant settlement. Only ODL transactions involve XRP.
Why don't more banks use XRP directly?
Regulatory uncertainty, compliance concerns about holding crypto, volatility risk, and legacy system integration are the main barriers. Most banks prefer the "safe" choice of RippleNet messaging without ODL/XRP until regulations clarify.
Will more banks adopt XRP in 2026?
Likely yes. The SEC lawsuit resolution, potential ETF approvals, RLUSD launch, and clearer global regulations are removing barriers. Japan's SBI is proving the model works, and other banks are watching closely.
🔗 Related Resources