In the world of cryptocurrencies, there are hundreds of thousands of projects, but very few have managed to transcend into the institutional space the way Ripple has. A couple of years ago, I wrote an article about this crypto company when it was already beginning to stand out in the field of institutional cross-border payments. (If you’d like to read it, you can find it here).
Although many associate Ripple solely with XRP, the reality is that Ripple has evolved into a global financial infrastructure, offering payments, custody, stablecoins, central bank solutions, and a network of alliances that position it as one of the strongest players in the new digital economy.
Institutional Services
Ripple has focused on building services designed for financial institutions, enterprises, and governments, including:
- Ripple Payments: A cross-border payment platform that leverages On-Demand Liquidity (ODL) and XRP as a bridge asset, reducing costs and settlement times.
- Corporate Custody: Following the acquisitions of Metaco and Standard Custody, Ripple now provides regulated custody solutions for large institutions.
- CBDC Platform and RLUSD: Ripple has developed infrastructure for central bank digital currencies (CBDCs) as well as its own regulated stablecoin, Ripple USD (RLUSD), designed for secure and fast transactions in the institutional ecosystem.
Technology and Assets
The technological backbone of Ripple is the XRP Ledger (XRPL), a public and decentralized blockchain with over a decade of stable operation. Its key features include:
- Fast settlement (3–5 seconds) and minimal transaction costs.
- Native DEX and AMM, enabling asset exchange without external intermediaries.
- Tokenization capabilities for stablecoins, CBDCs, and other digital assets.
In this ecosystem, XRP serves as a key bridge asset for cross-border payments, while RLUSD is projected to become a cornerstone for institutional markets and collateral in financial operations.
Strategic Acquisitions
In April 2025, Ripple announced the acquisition of Hidden Road, a global prime broker valued at US$1.25 billion. This move strengthens Ripple’s position as an integrated financial services provider by enabling:
- Integration of institutional brokerage services.
- Use of RLUSD as collateral in multi-asset operations.
- Expansion into settlement and clearing across both traditional and crypto markets.
This acquisition adds to Ripple’s earlier purchases of Metaco and Standard Custody, building a comprehensive ecosystem of payments, custody, and liquidity.
Global Alliances and Licenses
Ripple has secured regulatory licenses in several strategic jurisdictions:
- Singapore: MPI payments license.
- Ireland: Registered as a VASP within the European Union.
- Dubai: Licensed under the DFSA to operate in the MENA region.
- United States: More than 50 state money transmitter licenses and an ongoing application for a national bank charter (Ripple National Trust Bank). If approved, Ripple would become one of the first crypto companies to obtain a national banking license in the U.S.
In terms of partnerships, Ripple maintains collaborations with SBI Holdings (Japan), Tranglo (Asia), Onafriq (Africa), Uphold (U.S.), Bank of America (U.S.), Banco Santander (Spain), among others, extending its global reach.
Participation in the Global Financial Ecosystem
Ripple not only works with banks and private institutions but also actively engages with international organizations. It is a member of the IMF’s High-Level Advisory Group on Fintech, contributing recommendations on cross-border payments and digital money. Ripple executives have also participated in events organized by the IMF and the Swiss National Bank, highlighting XRP’s role as a bridge asset.
Additionally, Ripple collaborates with the Bank for International Settlements (BIS) on projects related to CBDC interoperability and cross-border payments, reinforcing its position as a key player in the future of global financial infrastructure.
Legal Victory Against the SEC
One of the most significant milestones in Ripple’s recent history was its victory against the U.S. Securities and Exchange Commission (SEC). After several years of litigation, the SEC withdrew its appeal, and Ripple reached a settlement by paying US$50 million instead of the initially proposed US$125 million. This outcome strengthens Ripple’s legal standing and provides greater regulatory clarity for both XRP and the company as a whole.
The National Bank Context
Ripple has also applied to the Office of the Comptroller of the Currency (OCC) to establish the Ripple National Trust Bank. While traditional banking associations have expressed opposition, this step underscores Ripple’s ambition to fully integrate into the regulated U.S. financial system, opening the door to new business models built on digital assets.
Institutional Impact
With all these elements (robust technological infrastructure, integrated financial services, regulatory licenses, strategic acquisitions, and legal victories), Ripple stands out as one of the few crypto companies with the real capacity to operate as a global institutional player. Its vision of connecting the world through instant payments, on-demand liquidity, and regulated digital assets marks a turning point in the evolution of the financial industry.
Ripple is not just a crypto company. It is a complete digital value ecosystem that combines blockchain, stablecoins, custody, payments, and banking services. With the XRP Ledger as its backbone, XRP as a bridge asset, and RLUSD as a regulated stablecoin, Ripple is positioning itself as the company that could redefine global financial infrastructure. If it consolidates its position in the U.S. and expands its services worldwide, it will undoubtedly surpass major tech giants like Apple, NVIDIA, Microsoft, or Google, not in the realm of information, but in the most valuable domain of all: money and the transfer of value.
Sources and references
- Ripple on RippleNet and ISO 20022: https://ripple.com/insights/ripplenet-now-aligned-with-iso-20022-standard-for-global-payments/
- Ripple and U.S. licenses (BitLicense and state money transmitter licenses): https://ripple.com/insights/ripple-awarded-ny-bitlicense-2024/
- Ripple license in Singapore: https://ripple.com/insights/ripple-receives-full-license-singapore/
- Ripple license in Ireland: https://ripple.com/insights/ripple-secures-crypto-license-in-ireland/
- Ripple license in Dubai: https://ripple.com/insights/ripple-receives-approval-to-operate-in-dubai-ifsc/
- Ripple National Trust Bank (OCC charter): https://ripple.com/insights/ripple-applies-for-national-bank-charter/
- Hidden Road acquisition (Reuters): https://www.reuters.com/technology/ripple-acquires-hidden-road-2025-04-10/
- Metaco acquisition: https://ripple.com/insights/ripple-acquires-metaco/
- Standard Custody acquisition: https://ripple.com/insights/ripple-acquires-standard-custody/
- RLUSD launch: https://ripple.com/insights/introducing-ripple-usd-stablecoin-rlusd/
- Ripple vs SEC (settlement): https://ripple.com/insights/ripple-sec-lawsuit-resolution/
- Ripple y FMI (advisory group): https://www.ethnews.com/ripple-joins-imf-fintech-advisory-group-bolsters-global-payment-influence/
Ripple and BIS (CBDC interoperability and projects):
- https://www.bis.org/cpmi/pietf/pietf_members.pdf (PIETF, Ripple and list of members).
- https://www.bis.org/about/bisih/topics/fmis/agora.htm (Project Agorá, call for private partners to explore tokenization and cross-border payments).
- https://www.bis.org/about/bisih/topics/cbdc/mcbdc_bridge.htm (Project mBridge, multi-CBDC platform and MVP results).
- https://www.bis.org/publ/report_pyxtrial.pdf (Project Pyxtrial, BIS report discussing stablecoins and mentioning Ripple in the references).