RippleNet is powering through the global payment network by pushing the adoption of blockchain technology, which XRP is benefiting from. Leading global banks are increasingly using Ripple’s services as it facilitates faster, cheaper, and transparent cross-border transactions.
Clearing settlements between financial institutions and businesses has been made easier while incorporating blockchain technology, and XRP remains at the centre of the development. In this article, we will highlight the number of global banks that are using RippleNet for their payment services today.
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XRP Powering Through: List of Banks Using RippleNet Today
Below is the list of leading global banks that are using RippleNet services today:
1. American Express (USA)
2. SBI Holdings (Japan)
3. Santander (Spain)
4. PNC Bank (USA)
5. Axis Bank (India)
6. Bank of America (USA)
7. Standard Chartered (UK)
8. MUFG Bank (Japan)
9. Indusind Bank (India)
10. National Bank of Fujairah (UAE)
11. RAKBANK (UAE)
12. Banco Rendimento (Brazil)
13. Siam Commercial Bank (Thailand)
14. Woori Bank and Shinhan Bank (South Korea)
15. Riyadh Bank (Saudi Arabia)
16. Vietcombank (Vietnam)
17. Standard Bank (South Africa)
While these are only the list of leading global banks, over 300 corporations use RippleNet for payment settlements. In addition, many other banks are exploring blockchain technology by partnering with Ripple via pilot tests. If approved, they would onboard Ripple as a service provider, which eventually could help boost XRP.
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Remittance and real-time payments are the need of the hour in the ongoing fast-paced financial world. Deals, collaboration, and partnerships can benefit from seamless payments reaching clients. RippleNet is filling in the void that was missing in the broader banking sector.
Over the years, many more banks have onboarded RippleNet as the firm’s presence is noticed in the financial sector. The more banks use the technology, the higher the chance for XRP to sustainably scale up in the indices. Investors would benefit the most from the collaboration if XRP swells in value.
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