Ripple (XRP) Collaboration with 8 Big Companies, You Must Know!

Bittime - Ripple (XRP) is able to offer fast, cheap and efficient cross-border payment solutions. So, this article will discuss Ripple (XRP)'s collaboration with 8 well-known global companies. Anything? Check out the review here.

From multinational banks to tech giants, various entities have seen the huge potential in the technology that Ripple offers. This article will take a deeper look at the list of global companies that have collaborated with this crypto project.

What is Ripple (XRP)?

Source: FinTech Magazine

Ripple is a blockchain-based payment platform developed by Ripple Labs in 2012. This system uses distributed ledger technology known as XRP Ledger to process financial transactions more quickly and efficiently than traditional systems such as SWIFT.

The platform's native token, XRP, serves as an intermediary in cross-border transactions. With much higher transaction speeds and lower fees than fiat currencies or even other crypto assets, XRP is increasingly becoming the preferred choice for many financial institutions.

Additionally, RippleNet, Ripple's global payments network, enables banks and financial service providers to transact more easily and without geographic barriers.

Read also: Fix, Ripple vs SEC Case Officially Closed! Big Win for the Crypto World

List of Ripple Collaborations with Global Companies

Source: Ripple

Ripple has established various strategic partnerships with large companies in the world. The following are eight global companies that have collaborated with Ripple:

1. MoneyGram

In June 2019, MoneyGram announced a strategic partnership with Ripple. The global company collaborates with Ripple to use xRapid technology to speed up and reduce cross-border transaction costs. 

This was a big step for Ripple, considering that at that time there were still few non-crypto companies who dared to collaborate with blockchain projects.

As part of this partnership, Ripple invested $30 million in MoneyGram equity. However, in March 2021, this collaboration ended because Ripple faced a lawsuit from the SEC. 

MoneyGram was later hit with a lawsuit over allegedly misleading statements regarding its use of XRP during the partnership.

2. Santander Bank

Banco Santander, a renowned international bank, partnered with Ripple to develop the One Pay FX service. The service enables faster, cheaper and more transparent international transfers. 

By utilizing Ripple technology, this service managed to cover half of the bank's total annual international transfers.

Despite using Ripple technology, Banco Santander has not yet adopted XRP in its system. One Pay FX CEO, Cedric Menager, said that XRP liquidity in the global market is still limited, so banks choose not to use it in their operations.

3. American Express

In 2017, American Express teamed up with Ripple to build a blockchain-based payments corridor between the US and the UK. This partnership enables faster and more secure transactions through RippleNet, Ripple's payment network.

This corridor connects American Express customers in the US with Santander accounts in the UK, allowing non-card payments to be processed almost instantly via Ripple technology.

4. Standard Chartered Bank

Standard Chartered Bank started using Ripple technology in 2016 to increase the efficiency of international financial trading. By adopting the Ripple blockchain, this bank has succeeded in reducing the risk of fraud and speeding up the global financial transaction process.

Standard Chartered developed a Proof-of-Concept (PoC) system using Ripple technology to reduce costs and risks in trading transactions. 

The bank believes that blockchain can provide major benefits in cross-border trade financing.

5. SBI Holdings

SBI Holdings, a Japanese financial services company, is partnering with Ripple to increase the speed and efficiency of cross-border payments between Japan and the Philippines. 

SBI is also the first company to adopt Ripple's On-Demand Liquidity (ODL) service in Japan.

This partnership began with the launch of the first ODL service in Japan. SBI Holdings uses RippleNet to enable financial industry participants to connect with specific institutions through a single, integrated API.

Read also: This is Ripple's plan after the XRP vs SEC case ends, IPO soon!

6. Amazon Web Services (AWS)

Ripple uses cloud services from Amazon Web Services (AWS) to store and manage their blockchain operations. With support from AWS, Ripple can provide a more reliable and scalable blockchain infrastructure for its users.

Additionally, Ripple also benefits indirectly from Amazon's partnerships with dLocal and Inter & Co., two companies that also use Ripple technology to expand their card payment services.

7. Bank of America

Bank of America has partnered with Ripple since 2016 to improve the efficiency of their payment system. This bank is said to soon adopt Ripple's On-Demand Liquidity (ODL) service after the resolution of the XRP lawsuit.

In 2020, Bank of America's Head of Global Banking, Julie Harris, praised Ripple for its ability to increase global payment options. However, the bank is still waiting for a legal settlement regarding XRP before expanding its use.

8. SEB (Scandinavian Enskilda Banken AB)

Swedish bank SEB began partnering with Ripple in 2016 to facilitate real-time payments between Stockholm and New York. This partnership paves the way for Ripple's adoption in the European banking sector.

Using Ripple technology, SEB enables its clients to make instant transfers between accounts in various European countries. This move expands Ripple's coverage in global financial markets.

Read also: Proposal for XRP to Become a Strategic Asset for the United States Financial System

Conclusion

Ripple's collaboration with various large companies proves that blockchain technology has great potential in the world of finance. With advantages in transaction speed and cost efficiency, the crypto project continues to attract the attention of banks, financial institutions and global technology companies.

This is a discussion of Ripple's list of collaborations with well-known global companies. So, are you interested in this crypto project?

FAQ

1. What are the advantages of Ripple over traditional payment systems?

Ripple offers much faster transaction speeds and lower fees than systems like SWIFT. Additionally, XRP enables instant liquidity in cross-border transactions.

2. Is XRP the same as Ripple?

No. Ripple is a blockchain-based company and payment platform, while XRP is a crypto token used in the Ripple ecosystem to speed up transactions.

3. Why are many banks interested in working with Ripple?

Banks are interested in Ripple technology because it can increase efficiency in cross-border financial transactions, reduce costs, and speed up the process of sending funds.

4. What is the future of Ripple and XRP?

Even though it still faces legal challenges, Ripple continues to grow with various strategic partnerships. If the adoption of blockchain technology becomes more widespread, XRP has the potential to become one of the main crypto assets in the global financial system.

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Reference 

Coindoo, Biggest Ripple Partnerships – How XRP Revolutionized the Blockchain Industry, accessed March 25, 2025.

Ripple, Ripple Customers, accessed March 25, 2025.

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