XRP: Brazilian Banks Adopt Ripple Technology for Cross-Border Payments
This article was created with the help of artificial intelligence.
Key Takeaways
- Travelex Bank was integrated into Ripple's ODL system (On-Demand Liquidity) in May 2026 as the first Latin American bank and settles cross-border payments entirely via XRP.
- The U.S. Securities and Exchange Commission ended its lawsuit against Ripple Labs on August 8, 2025, with a settlement including a penalty payment of 125 million dollars.
- XRP uses its own consensus protocol instead of Proof-of-Work and was developed in 2012 by Ripple Labs specifically for cross-border payments.
- The amount of XRP in circulation at the beginning of 2026 is approximately 61 billion tokens.
- In addition to Travelex Bank, Banco Rendimiento and Banco Genial in Brazil also rely on Ripple's payment infrastructure for international transactions.
Three Brazilian banks have been using Ripple Labs' XRP technology since 2026 for cross-border payments and remittances. Travelex Bank was the first Latin American bank integrated into the ODL system (On-Demand Liquidity) and settles cross-border transactions entirely via XRP, as the company announced in May 2026.
In addition to Travelex Bank, Banco Rendimiento and Banco Genial also rely on Ripple's infrastructure. Banco Rendimiento uses RippleNet for remittance flows, while Banco Genial has implemented Ripple Payments for cross-border payouts. These developments demonstrate growing institutional adoption of XRP technology in the Latin American financial sector.
What is XRP and how does the technology work?
XRP is the native cryptocurrency of the XRP Ledger, a blockchain that Ripple Labs developed in 2012 specifically for cross-border payments and global financial transactions. Unlike Bitcoin or Ethereum, XRP does not rely on energy-intensive Proof-of-Work, but rather on its own consensus protocol for transaction validation. According to Ripple, this process enables faster transactions with lower energy consumption.
The amount in circulation at the beginning of 2026 is approximately 61 billion tokens. This figure represents the actively available supply that is traded and held via exchanges and wallets.
SEC Lawsuit Settled in August 2025
On August 8, 2025, the U.S. Securities and Exchange Commission (SEC) ended its lawsuit against Ripple Labs. The agency had accused the company of selling unregistered securities. The settlement included a penalty payment of 125 million dollars. With this agreement, one of the most closely watched regulatory cases in the cryptocurrency industry was concluded.
The settlement came more than three years after the lawsuit was filed in December 2020. Ripple had consistently argued that XRP is not a security but a currency like Bitcoin or Ether.
Trading and Custody of XRP
XRP is traded on several exchanges. Since June 28, 2026, the cryptocurrency has been available on Robinhood around the clock without time-based trading restrictions. For long-term storage, industry observers recommend hardware wallets such as Ledger, which are designed to protect assets from exchange failures and hacking attacks.
By market capitalization, XRP remains among the leading cryptocurrencies. As of June 23, 2026, XRP is listed in the major cryptocurrency indices alongside Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
Institutional Adoption in Latin America
The integration of Brazilian banks into Ripple's payment network marks an expansion of institutional use in Latin America. Ripple's ODL system enables financial institutions to provide liquidity for cross-border payments in real time without maintaining nostro accounts in various currencies. As the first bank in the region, Travelex Bank uses this technology for complete XRP-based transaction settlement.
Banco Rendimiento and Banco Genial rely on different Ripple services. While Banco Rendimiento uses the RippleNet network for remittances, Banco Genial has implemented the newer Ripple Payments solution for foreign payouts. Both approaches aim to reduce costs and processing times in international payments.