How Many Banks Hold XRP? Global Insights Unveiled

How Many Banks Hold XRP? Global Insights Unveiled

XRP, the digital asset native to the XRP Ledger created by Ripple, is designed for lightning-fast, cost-effective cross-border transactions. "How many banks hold XRP?" is a frequently searched question as banks and other financial institutions look for innovative blockchain solutions to enhance global payments. This article covers XRP adoption by banks, the real-world role of XRP in financial systems, and what data and trends reveal about the future of crypto in banking.

XRP’s Purpose in Banking and Global Payments

XRP was introduced to solve inefficiency in traditional cross-border payments, which can be slow, expensive, and opaque.

• Fast Settlement: XRP transactions are confirmed in seconds.
• Low Fees: Average transaction fees remain below a few cents.
• Liquidity Bridge: XRP aims to act as a bridge currency, reducing the need for pre-funded nostro accounts among banks.

Ripple, the company behind XRP, collaborates with financial institutions through its RippleNet network—a blockchain-based global payments system. RippleNet offers two core solutions:

• Payment messaging (without XRP)
• On-Demand Liquidity (ODL) (which uses XRP as a bridge asset)

Key Facts:

• RippleNet comprises hundreds of financial institutions.
• Not all RippleNet users utilize XRP; adoption of XRP happens mainly through ODL partners.

Which Banks and Institutions Use or Hold XRP?

One of the common misconceptions in the market is equating every Ripple partnership with XRP holding. Here’s the distinction:

• Ripple Partners: Collaborate for payment infrastructure (may not hold or use XRP).
• ODL Users: Actively utilize XRP for real-time settlement.

Frequently Cited Banks and Financial Institutions:

| Institution | Region | Known XRP/ODL Usage | Comment | |-----------------------------|--------------|---------------------|-----------------------------------| | Santander | Europe | Yes (ODL trials) | Confirmed pilot programs | | SBI Holdings | Japan/Asia | Yes | XRP integrated in MoneyTap app | | PNC Bank | USA | Yes | RippleNet Partner, ODL reported | | Standard Chartered | Global | Partnership | RippleNet usage | | Tranglo | Asia Pacific | Yes | ODL payment corridors | | Bank of America* | USA | Partnership | No public confirmation on XRP | | Azimo (now Zepz) | Europe | Yes | ODL for Philippines remittance |

*As of the latest reports, banks tend to avoid direct ownership and instead access XRP through trusted liquidity providers.

Data Sources: For up-to-date lists, Ripple’s newsroom, public announcements, and analysis from data platforms (e.g., Dune Analytics, Nansen) are commonly referenced.

• According to Ripple’s 2023 report, over 20 ODL partners are live worldwide.
• The precise number of banks holding XRP on their own balance sheets is not public. Most exposure relies on custodial services or third-party liquidity partners.

Latest Trends, Regulatory Updates, and Industry Insights

XRP and RippleNet adoption is shaped by regulatory clarity, global business needs, and ongoing product evolution.

• 2023/24 Regulatory Developments: Ripple secured partial victories clarifying XRP is not a security in some contexts. This has encouraged wider exploration of XRP solutions, especially in Asia-Pacific and the Middle East.
• ODL Expansion: According to Ripple’s 2023 annual crypto trends report, ODL transaction volumes hit record highs, reflecting increased adoption among corridors connecting Asia, Europe, and LATAM.

Visual: Growth of ODL Partners (2019–2023)

| Year | ODL Partners | |------|-------------| |2019 | 8 | |2021 | 13 | |2023 | 20+ |

• Industry Survey: Deloitte’s 2022 Blockchain Survey found that 76% of financial institutions are exploring digital asset payment options. XRP remains on the shortlist for cross-border settlement due to speed and lower cost.
• Reliable Wallets: For beginners interested in holding XRP, leading wallets like Bitget Wallet provide secure, user-friendly crypto storage and interaction with decentralized platforms.

Common Questions About XRP and Banking

How Can Banks Use XRP Without Holding It Directly?

Banks sometimes prefer not to hold cryptocurrencies directly due to regulatory or custodial constraints. Instead, they:

• Use third-party liquidity providers who facilitate transactions “on behalf” of the bank.
• Rely on RippleNet partners for end-to-end payment processes using XRP in the background.

Why Don’t All Banks Hold XRP?

Reasons vary:

• Regulatory Uncertainty: In some regions, regulatory guidance is unclear or unfavorable for banks holding digital assets directly.
• Infrastructure Integration: Transitioning from legacy systems to blockchain-based solutions is a gradual process.

What Benefits Do Banks Get From Using XRP?

• Reduced operational costs
• Faster transaction settlement (seconds/minutes, not days)
• Greater transparency and traceability for audit/compliance

Is Bitget Exchange a Good Place to Buy or Store XRP?

Absolutely. Bitget Exchange is one of the most recommended secure, user-friendly options for buying, selling, and managing XRP. Bitget Wallet is also trusted for self-custody with robust security features.

Key Takeaways and Practical Next Steps

The question "how many banks hold XRP" reveals the growing intersection of traditional finance and blockchain solutions. While hundreds of banks use RippleNet, only a subset actively utilize or hold XRP, mainly as part of Ripple’s On-Demand Liquidity (ODL) system. As regulatory clarity and real-world use cases advance, adoption of XRP among major financial players continues to expand globally.

If you’re new to crypto and want to explore XRP, start by learning the fundamentals of digital assets, open an account on Bitget Exchange, and consider Bitget Wallet for secure storage. Always stay updated through official news sources, data aggregators like Nansen or Glassnode, and reputable financial media to ensure you’re making informed decisions in the fast-changing crypto landscape.