XRP News Today: Over 100 Banks Test Ripple’s XRP for Cross-Border Payments as Santander Bank of America Collaborate

Ripple’s XRP is being tested by over 100 global banks, according to a document shared by crypto researcher SMQKE, highlighting the asset’s growing role in institutional blockchain experimentation. The analysis outlines ongoing collaborations with major financial institutions, including Santander, Bank of America, Axis Bank, and Standard Chartered, as they evaluate Ripple’s blockchain-based solutions for cross-border transactions. These trials focus on leveraging XRP to enhance payment efficiency and scalability [1].

The document emphasizes Ripple’s decade-long development of XRP, launched in 2012 to facilitate global payments, and its integration into a centralized fintech framework. Key partners such as Google, Goldman Sachs, and Banco Santander have co-invested in Ripple’s ecosystem, signaling broader industry confidence in its technology [1]. Santander’s implementation of the One Pay FX platform, powered by Ripple’s blockchain, further illustrates operational adoption. The platform, described as a “fully functional” system, has already streamlined cross-border payments for the bank [1].

While XRP’s live settlement use remains limited, the scale of testing across major banks underscores Ripple’s influence in shaping next-generation financial infrastructure. The document notes that Ripple’s system aims to complement existing structures by enabling faster transactions and improving the exchange of low-liquid assets, rather than replacing traditional systems [1].

SMQKE’s findings, combined with prior reporting on Santander’s deployment of One Pay FX, reinforce the argument that XRP is gaining traction in institutional settings. The test mode engagements reflect a strategic focus on interoperability and scalability, traits critical for modernizing global payment networks. Analysts suggest that the involvement of over 100 banks signals a shift toward blockchain-driven solutions in the financial sector, though widespread adoption will depend on regulatory clarity and technical validation [1].

Sources:

[1] "New Document: XRP Is In “Test Mode” for Over 100 Banks" (https://coinmarketcap.com/community/articles/688a035854b60d73c6013e7b/)