In a landmark announcement in March 2025, Ripple CEO Brad Garlinghouse confirmed that the long-standing legal battle with the U.S. Securities and Exchange Commission (SEC) has reached its conclusion. The SEC concluded that XRP, Ripple’s flagship cryptocurrency, is not classified as a security for public exchange sales, although it does retain that classification for certain institutional sales. This clarity has come as a significant relief for Ripple, allowing the company to pivot towards growth and innovation.
Following this development, Ripple seized the opportunity to forge new partnerships with a range of banks and financial institutions. The SEC formally closed its lawsuit against Ripple Labs concerning unregistered securities, keeping in place a penalty of $125 million. This legal resolution marks the end of one of the most scrutinized cases in the cryptocurrency landscape.
Ripple’s partnership landscape is rapidly expanding, with several key alliances being formed:
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BNY Mellon: Ripple appointed the Bank of New York as the primary custodian for its U.S. dollar-pegged stablecoin, Ripple USD (RLUSD), in July 2025. This partnership is expected to bolster the stability and reliability of Ripple’s digital currency offering.
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Hidden Road: In a bold move, Ripple acquired the prime brokerage firm Hidden Road in April 2025 for $1.25 billion. This strategic acquisition is aimed at enhancing Ripple’s capabilities in bridging traditional finance with digital assets, facilitating control over essential transaction infrastructures, and integrating RLUSD as collateral within institutional services.
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Dubai Land Department & Ctrl Alt: Ripple also formed a partnership in July 2025 with these organizations to support the tokenization of real estate on the XRP Ledger. This initiative represents a significant step in integrating blockchain technology into real estate transactions.
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Canadian Imperial Bank of Commerce (CIBC): The collaboration with CIBC, which began back in 2016, saw an expansion in July 2025. CIBC is providing growth capital financing to Ripple Operations, a firm focused on technological advancements for the maritime industry.
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SBI Remit & SBI Holdings (Japan): In August 2025, Ripple entered into a Memorandum of Understanding (MOU) with SBI and SBI VC Trade, aiming to introduce RLUSD to the Japanese market by 2026. This development underscores Ripple’s ambition to expand its presence in Asia.
Overall, Ripple boasts partnerships with more than 100 financial institutions across the globe, further solidifying its position in the market. Leveraging RippleNet technology and the XRP Ledger, Ripple enables rapid and efficient cross-border payments, appealing to a wide array of businesses.
The regulatory clarity achieved after the SEC ruling has also led to partnerships being activated that were pending prior. For instance, South Korea’s digital asset custodian, BDACS, began offering XRP custody services in August 2025, highlighting the demand for compliant infrastructure in the market.
In July 2025, Ripple applied to the Office of the Comptroller of the Currency (OCC) for national trust bank charters. This application, if successful, would allow Ripple to operate federally chartered banks, thereby gaining legitimacy, enabling operations across state lines, and securing reserves for its stablecoin with direct access to the Federal Reserve’s payment infrastructure.
The changes in regulatory landscape and Ripple’s proactive strategies make it a company to watch in the evolving cryptocurrency space. Analysts have even projected a potential price target of $4.50 for XRP, indicating a possible double-digit breakout in the future.
