Banks Explore XRP for Faster Cross-Border Payments

Major Banks Turn to XRP: Santander, Bank of America, and SBI Test Blockchain for Faster Cross-Border Payments

Crypto investment firm 21Shares reports that leading banks, such as Santander, Bank of America, and Japan’s SBI Holdings, are using or testing XRP-powered infrastructure, marking a major shift in global cross-border payments.

21Shares, a leading issuer of regulated crypto ETPs, recently launched the 21Shares XRP ETF (TOXR), spotlighting XRP’s growing adoption. 

Over 100 financial institutions worldwide are now using or testing XRP-powered solutions to make cross-border payments faster and more cost-efficient, signaling its rising appeal beyond crypto investors to traditional finance.

Why Banks Are Exploring XRP

Traditional cross‑border payments via legacy systems like SWIFT are often slow, costly, and opaque, taking days to settle and charging high fees. XRP’s blockchain‑based ledger offers a faster, cheaper alternative, with transactions completing in seconds at a fraction of the cost. Leading financial institutions are already exploring this potential:

• Santander has tested RippleNet and XRP corridors to reduce settlement times and cut operational costs.

• Bank of America is evaluating XRP technology, signaling interest in modernizing its global payments infrastructure.

• SBI Holdings leverages XRP through its subsidiary SBI Remit, enabling rapid, low‑cost remittances from Japan to countries like the Philippines and Vietnam.

XRP’s adoption by major banks underscores a growing shift toward efficient, blockchain‑powered cross‑border payments.

What This Means for Cross‑Border Finance

The adoption of XRP by major financial institutions underscores blockchain’s tangible utility beyond speculation. By leveraging XRP for settlements, banks can reduce pre-funded foreign accounts, lower liquidity costs, and accelerate payment finality, tackling major inefficiencies in global finance. 

As more institutions pilot XRP-powered services, the payments ecosystem is poised for a shift toward faster, more transparent, and digitally native transactions, bridging traditional banking and next-gen blockchain networks.

Therefore, Santander, Bank of America, and SBI Holdings’ adoption of XRP-powered infrastructure signals rising institutional confidence in crypto settlements, poised to transform cross-border payments.

Conclusion

The adoption of XRP-powered infrastructure by financial giants like Santander, Bank of America, and SBI Holdings marks a turning point in cross-border payments. 

By harnessing blockchain, these institutions are driving faster, cheaper, and more transparent transactions, reflecting rising institutional confidence in crypto solutions. As XRP gains momentum, it has the potential to redefine global finance, merging traditional banking with the innovation of digital assets.