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XRP institutional adoption has undergone a dramatic shift since the resolution of the Ripple vs SEC lawsuit. With legal clarity established, financial institutions that avoided XRP during the litigation period have returned — and new players have entered. Here’s a comprehensive look at who is using XRP and how.
Financial Institutions Using Ripple/XRP
SBI Holdings (Japan)
SBI Holdings is arguably Ripple’s most committed institutional partner. The Japanese financial conglomerate has invested over $500 million in Ripple, operates SBI Remit (a Ripple ODL partner), and has created Ripple-focused investment products for Japanese retail investors. SBI has also invested in XRP-related companies across Southeast Asia, building out Ripple’s corridor infrastructure in the region.
Santander
Santander Bank was one of the first major global banks to deploy RippleNet for its One Pay FX international transfer service, available to retail customers in Spain, UK, Brazil, and Poland. The service uses Ripple’s messaging technology (not necessarily XRP/ODL) for faster cross-border payments.
Bank of America
Bank of America holds multiple patents referencing Ripple’s technology and has been identified as a RippleNet member. While the bank has not made public statements about XRP usage, its technology investments suggest deep integration with Ripple’s infrastructure.
Standard Chartered
The London-based multinational bank uses RippleNet for payments across its extensive Asia-Pacific network — a natural fit given Standard Chartered’s focus on emerging market corridors.
IndusInd Bank (India)
India’s IndusInd Bank uses Ripple for inbound remittances from Australia and other markets, partnering with Tranglo and other Ripple ODL providers to deliver faster settlements to Indian account holders.
Investment Funds and Asset Managers
XRP ETF Applicants (2026)
Following the SEC’s approval of spot Bitcoin and Ether ETFs, multiple asset managers have filed for spot XRP ETFs:
- Grayscale: Converting its XRP Trust to a spot ETF structure
- Bitwise: Filed for a spot XRP ETF in 2024
- 21Shares: Filed for a spot XRP ETP in the US and has live products in Europe
- Franklin Templeton: Participating in broader digital asset ETF expansion
Hedge Funds
Institutional trading desks and macro hedge funds have returned to XRP positions following the SEC settlement. Galaxy Digital, Pantera Capital, and Digital Currency Group all have exposure to XRP and Ripple equity.
Fintech and Payment Companies
MoneyGram
MoneyGram and Ripple have had an on-again, off-again relationship. MoneyGram was Ripple’s highest-profile ODL partner until the SEC lawsuit caused MoneyGram to pause the partnership. Following the lawsuit’s resolution, Ripple and MoneyGram products have re-integrated.
Tranglo
Ripple acquired a 40% stake in Tranglo, making it a quasi-subsidiary. Tranglo processes hundreds of millions in cross-border payments annually using Ripple’s ODL infrastructure across Southeast Asian corridors.
Bitso
Mexico’s largest crypto exchange is a key ODL infrastructure partner for the high-volume US-Mexico corridor. Bitso processes billions in remittances annually, with a significant portion using XRP as the bridge asset.
Corporate Treasury Holdings
While companies like MicroStrategy and Tesla have made Bitcoin their treasury asset, no major public company has adopted XRP as a primary treasury reserve. However, several smaller companies and crypto-native firms hold XRP in corporate treasury positions.
Why Institutional Adoption Matters for XRP Price
Institutional adoption creates multiple demand channels:
- ETF inflows: Once approved, XRP ETFs could attract billions in demand from pension funds, endowments, and retail investors through brokerage accounts
- ODL demand: Each RippleNet ODL transaction creates non-speculative buying and selling pressure that deepens market liquidity
- Liquidity depth: More institutional players mean better bid-ask spreads and less slippage — making XRP more attractive to large traders
- Credibility signal: Institutional adoption signals to retail investors that XRP is a legitimate, regulated asset
Buy XRP on a Regulated Exchange
Bottom Line
XRP institutional adoption has accelerated dramatically since the Ripple vs SEC resolution. Over 300 financial institutions use RippleNet, spot XRP ETF applications are advancing in the US, and strategic investors like SBI Holdings are building out the XRP ecosystem globally. The combination of legal clarity, ETF potential, and CBDC infrastructure positions XRP for continued institutional growth through 2026 and beyond.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
Grayscale’s XRP trust is another milestone — read our full Grayscale XRP ETF (GXRP) analysis.
A Ripple IPO would be a landmark event for institutional adoption — see our Ripple IPO analysis.
Ripple’s pursuit of a banking license could transform its regulatory standing — read our banking license analysis.
Going public on Nasdaq would be a major institutional milestone — see our Ripple stock IPO analysis.