Bitwise’s Q3 2026 Crypto Market Review shows that approximately 79% of the large financial institutions it tracks have partnerships, pilot projects, or other business relationships with Ripple or XRP. Meanwhile, the XRP Ledger is advancing several feature updates tailored for institutional use cases, including payments, tokenized assets, and on-chain financial services.
Involve banks, asset management firms, and payment companies
The reported institutions include Bank of America, BlackRock, BNY Mellon, Citibank, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Mastercard, UBS, Visa, and Wells Fargo.
The report also notes that BNY Mellon is the primary custodian for Ripple’s stablecoin RLUSD and provides custody services for Bitwise’s XRP ETF.
Extend institutional applications on the XRP Ledger
On the business front, Ripple is advancing a tokenized U.S. Treasury project on the XRP Ledger in collaboration with JPMorgan, Mastercard, and Ondo Finance. The report also states that Mastercard is exploring the integration of RLUSD with the XRP Ledger for payment and settlement systems.
In addition to tokenized assets, institutions such as Santander, Standard Chartered, SBI Holdings, and CIBC continue to use RippleNet for cross-border payments, demonstrating that Ripple’s existing network remains primarily focused on payment use cases.
New features tailored for enterprise scenarios
- Batch trading: Process multiple transactions at once
- Confidential Transfer: Hide transaction amounts while meeting compliance requirements
- Permission delegation: Allow employees to obtain limited account permissions without surrendering full control of the wallet.
In addition, the update includes customizable multi-purpose tokens, along with performance optimizations that reduce memory usage and improve network efficiency. These features are primarily designed for enterprise payments, tokenized asset issuance, and institutional-grade on-chain applications.
Ripple proposes an on-chain lending framework
Ripple has also proposed a lending framework for the XRP Ledger. If approved, financial institutions could engage in collateralized lending backed by tokenized assets, with repayments, interest payments, and default management handled automatically through the on-chain system.
From a business perspective, Ripple is seeking to expand the role of the XRP Ledger beyond cross-border payments to include financial services such as lending, in order to attract more institutions to deploy assets and settlement processes on the chain.