A recent report has drawn attention to four prominent companies utilizing Ripple’s payment technology for remittances: SBI Remit, Tranglo, Azimo, and Nium. This information circulated widely on platforms like TradingView and Yahoo Finance, coinciding with a notable rise in the value of XRP, which surged more than 5% overnight. However, the landscape in mid-2026 reflects a much broader adoption of Ripple’s offerings.
Currently, over 300 financial institutions across more than 55 countries and 70 currency corridors have integrated RippleNet into their operations. According to figures from 247 Wall Street, the cumulative transaction volume through Ripple Payments surpassed $95 billion as of January 2026. Notably, On-Demand Liquidity (ODL) accounted for over $15 billion in cross-border transactions in 2024, representing a year-on-year growth of 32%. The Asia-Pacific region dominates this growth, comprising around 56% of ODL volume. By the first quarter of 2026, corridor volume had reached approximately $14.2 billion, reflecting a 38% increase quarter-over-quarter.
It is essential to note that not all participating institutions utilize XRP as a bridge asset. Approximately 40% of RippleNet partners actively settle transactions through ODL, while the remaining partners leverage Ripple’s messaging infrastructure without directly engaging with XRP.
The roster of companies employing Ripple technology for cross-border payments extends well beyond the initially mentioned firms. Notable legacy ODL partners confirmed to be utilizing XRP include:
- SBI Remit: Launched XRP-based international transfers in September 2023, targeting corridors in the Philippines, Vietnam, and Indonesia, developed in conjunction with SBI VC Trade and SBI Ripple Asia.
- Tranglo: Acts as the regional payout hub for Southeast Asia, where Ripple holds a 40% stake acquired in 2021, allowing the elimination of pre-funding requirements in over 20 countries.
- Azimo: Implemented ODL for remittances to the Philippines, claiming potential liquidity cost reductions of up to 60% compared to traditional banking methods.
- Nium: Utilizes RippleNet primarily for messaging, facilitating corridors from the Americas to Southeast Asia.
In March 2026, Convera, a leader in global commercial payments, announced a strategic collaboration with Ripple. Their partnership adopts a “stablecoin sandwich” methodology to enhance transaction efficiency, initiating and concluding exchanges with traditional currency while using a regulated stablecoin for the middle settlement phase.
Additionally, DXC Technology partnered with Ripple in January 2026 to incorporate blockchain-powered custody and payment functionalities into its Hogan banking platform, already supporting $5 trillion in client deposits across 300 million accounts worldwide.
Furthermore, Absa Bank, one of Africa’s largest financial institutions, has formed a custody partnership with Ripple as part of its strategy for continental expansion. Major banks and financial institutions also involved in RippleNet include Santander for consumer cross-border payments, PNC Financial Services as the first major U.S. bank on the network, and American Express for B2B transactions.
Two significant products underpin Ripple’s appeal to enterprises: On-Demand Liquidity (ODL) and the recently launched RLUSD, a dollar-pegged stablecoin. ODL, now categorized under Ripple Payments, facilitates instant conversions of XRP, acting as an intermediary for bridging national currencies, thus eradicating the necessity of pre-funding accounts, which are typically tied up in overseas transactions.
Currently, RLUSD boasts a market cap of approximately $1.78 billion as of late May 2026, having seen substantial growth from $132 million a year prior. The stablecoin recorded around 515,000 transactions within a 30-day span, with an adjusted volume of $3.5 billion, making it the ninth-largest stablecoin in the world, according to U.Today. With strategic acquisitions totaling around $2.7 billion focused on enhancing this ecosystem, Ripple has partnered with notable financial giants such as BlackRock and Deutsche Bank.
The competitive landscape also features SWIFT, which remains a dominant player, processing over $400 billion in daily cross-border payments among more than 4,450 institutions. In a response to the evolving market, SWIFT is developing a blockchain-based shared ledger initiative expected to run live transactions by the end of 2026, contributed to by over 40 banks.
Rather than replacing SWIFT, Ripple seems to be carving a complementary niche, leading to a hybrid environment where both systems coexist. Institutions like Bank of America are exploring synergies between SWIFT’s messaging and Ripple’s settlement solutions, aimed at achieving faster and more transparent transactions in a global remittance market valued at $857 billion annually.
Ripple’s expansion efforts in Africa are particularly noteworthy. With the Sub-Saharan region catering to over $205 billion in on-chain value—a 52% annual increase—key developments are emerging. South Africa has initiated regulatory testing of XRP for cross-border transactions, while partnerships with firms like Chipper Cash and VALR facilitate RLUSD distribution across African markets.
However, a central question remains: does this wide-ranging adoption translate to tangible demand for XRP? While enterprise usage of Ripple’s infrastructure rises, it does not necessarily imply an increased demand for the XRP token itself. Many banks operating with RLUSD engage within Ripple’s services without directly converting to XRP, as a significant portion of RLUSD exists on Ethereum, further obscuring any direct link to XRP’s value.
The implications of Ripple’s advancements continue to evolve, highlighting both opportunities and challenges amid ongoing conversations about the future of cross-border payments and cryptocurrency adoption.
