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Ahmed Barakat
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Evernorth, an XRP asset management company backed by Ripple, Kraken, Pantera Capital, and SBI Holdings, is telling investors that real banks are already using XRP, and that the next 18 months will tell not only if adoption issues happen, but how much and under what rules.
What is being said is true: daily transactions on the XRP Ledger have reached about 3 million, up from about 1 million in mid-2025, with Bitstamp, Ripple’s RLUSD stablecoin, and Braza Bank among the busiest names on the Internet. That’s a real number. What it means for banking is a different question entirely.
Its complexity is created. According to news, the transaction volume of XRPL has tripled in 12 months, and one major European bank has launched its euro-based stablecoin on XRP, choosing it as one of four public chains to do so.
But XRP on chain metrics and exchange trends tell a more complex story if the book represents a bank that continues to exist or an increase in power controlled by a small number of actors. Transactions and on-chain content are not mutually exclusive. They are not the same thing.
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Elder of Evernorth, Asheesh Birlahas argued in a press release that XRP’s long-term value will come from banks and businesses using it as a working capital, not from retail sales.
The design is important because it establishes a solid proof: not just demand, not ETFs moving, but the amount of money coming from the bank. Against the bar, the data is a little more supportive and a little more ambitious.
XRPL’s jump to nearly 3 million transactions per day is documented and real. The most busy names driving the traffic, Bitstamp, RLUSD, Braza Bank, are well-known financial institutions, not unknown wallets or washing vectors.
In May 2026, Evernorth highlighted the US Treasury bailout that brought together Mastercard, JP Morgan’s Kinexys, Ondo Finance, and Ripple using XRPL as a collateral, Ripple receiving USD currency in Singapore outside of the number of hours.
Evernorth described XRP as “one of the most important blockchain infrastructures to date.” The sale was made. It is not invented.
What the data still doesn’t confirm is whether these events represent systemic banking or high-flying pilots.
Ripple’s On-Demand Liquidity project has been in development since 2018, using XRP as a bridge across the borders of markets like the Middle East and Southeast Asia. The volume in those corridors is real but steady, not the international banking railroad that the headline implies.
The largest institutional transfer on XRPL is set for 2026, but Chainalysis research shows that it is competing with USDC and commercial CBDC projects for share.
The XRPL protocol itself is being redesigned with these ideas in mind. The expected changes include Token Escrow, Validated DEX, and Restricted Space, compliance tools designed to provide legal entities with a legal environment and a more stable environment.
The proposed XLS-66 XRP Lending Protocol will combine one-of-a-kind XRP rooms, fixed-term loans, and ZK tokens uploaded directly into the ledger, eliminating external smart contracts and bridges. Officials are rating the XLS-66, and a top 80% is required to start.
It hasn’t happened yet. Analysts who explain the idea put it as a request to open up a loan opportunity with a collateral of $ 100 billion on XRPL, but until an agreement is reached, it is construction on the drawing board, not banking operations on the ledger.
