What Companies Use XRP to Buy and Spend

What Is XRP and Its Role in Corporate Payments?

XRP is a digital asset created by Ripple Labs to enable fast, cost-effective global transactions. If you're wondering what companies use XRP to buy or pay for products and services, the answer touches on both real-world adoption and crypto innovation. XRP acts as a bridge currency in the Ripple network, allowing instant asset conversion and cross-border settlement for businesses and financial institutions.

XRP was launched in 2012, and today it's one of the world’s most traded cryptocurrencies. Unlike Bitcoin, which is mined, all XRP tokens were created at inception. The main goal is to provide seamless, scalable payment solutions — especially to companies dealing with international transactions. In this article, we’ll break down how corporations are actually using XRP and RippleNet, who the main players are, and what this means for the future of finance.

Companies Integrating XRP for Payments and Settlement

Over the years, several major companies and financial institutions have experimented with using XRP for payment settlement. Here’s how they are leveraging this digital asset:

• Banks and Financial Service Providers:
  • Santander, one of Europe’s largest banks, piloted Ripple’s technology in its international payments app, One Pay FX.
  • Tranglo and SBI Remit are collaborating with Ripple to streamline cross-border payments between regions such as Japan and Southeast Asia, using XRP as a bridge asset.
• Payment Processors:
  • BitPay enables merchants to accept payments in XRP for goods and services.
  • Wirex has allowed customers to buy gift cards and pay through XRP for supported retailers.
• Crypto Service Companies:
  • CoinGate, a global payment gateway, supports XRP payments, helping e-commerce stores and charities process crypto transactions.
  • Crypto exchange partners like Bitget Exchange facilitate institutional and retail transfers in XRP, boosting adoption among businesses.

The majority of these use cases rely on RippleNet — Ripple’s global payment network — which provides fast, inexpensive settlement. Some companies use RippleNet’s On-Demand Liquidity (ODL), where XRP is briefly utilized as a bridge currency to convert between fiat currencies in seconds. According to Ripple's official insights and industry updates, hundreds of financial institutions have joined RippleNet, with dozens using XRP for real payment flows.

Key Fact Table: Institutions Using RippleNet and XRP

| Company/Bank | Usage Type | Region | |-----------------|---------------|---------------| | Santander | Payments/Pilot| Europe | | SBI Remit | Remittances | Japan/Asia | | Tranglo | Payments | SE Asia | | BitPay | Merchant Pay | Global | | CoinGate | E-Commerce | Global |

How Businesses Benefit from Using XRP

Businesses choose XRP for several reasons in the digital payments landscape:

• Speed: XRP transactions typically settle in 3–5 seconds, compared to the days it can take with traditional SWIFT payments.
• Low Costs: The XRP Ledger charges a fraction of a cent per transaction, reducing operational expenses especially for volume transfers.
• Global Reach: XRP facilitates payments between currencies that don’t have a direct exchange market, thanks to its role as a bridge asset.
• Liquidity Management: With On-Demand Liquidity (ODL), companies can avoid pre-funding accounts in different countries, freeing up working capital.

Unique Industry Trends:

• According to Ripple’s 2023 annual report, ODL volume grew significantly despite global regulatory uncertainties, with partners like SBI Remit reaching new markets in Southeast Asia.
• Emerging Use Cases: Fintech startups and payment aggregators continue exploring B2B (business-to-business) and B2C (business-to-consumer) flows using XRP, especially for cross-border e-commerce.
• Compliance and Transparency: The XRP Ledger provides a public yet secure transaction history, appealing to enterprises concerned with compliance and anti-money laundering (AML) standards.

Infographic: The Advantages of XRP for Businesses

• Speed: 3-5 seconds settlement
• Cost: Less than $0.01 per transaction
• Availability: 24/7, 365 days a year

Recent Developments and the Future of XRP Adoption

The adoption of XRP by companies has fluctuated with regulatory news, market trends, and technology upgrades. Here are notable recent developments:

• Ripple vs. SEC Legal Outcome: The XRP ecosystem saw a resurgence in business partnerships after positive legal developments in the U.S. courts in 2023. This led to more companies considering XRP for payment rails again.
• Partnership Expansion: Ripple announced expanded partnerships in Africa, the Middle East, and Latin America to serve remittance corridors.
• Technical Upgrades: The XRP Ledger is undergoing enhancements for better scalability and smart contract integration, potentially attracting DeFi and enterprise projects (source: official Ripple Dev Blog).
• Exchange Listings: More global crypto exchanges, including Bitget Exchange, support direct trading, custody, and institutional integrations of XRP, making it accessible for companies worldwide.

Research and Industry Data:

• Glassnode and Nansen have reported spikes in on-chain XRP transactions aligned with international business settlements.
• According to Dune Analytics, XRP’s cross-border transaction volume is among the top three in the crypto space, especially in remittance-heavy regions.
• Surveys show increasing interest among neobanks and fintech service providers to integrate RippleNet and XRP in their backend for faster user settlement.

Frequently Asked Questions

Can any company buy goods or pay vendors using XRP?

Most companies connect to payment processors (such as BitPay or CoinGate) or partner banks using RippleNet. Direct spending depends on whether the vendor accepts XRP. However, many can use services to convert XRP instantly to local currency.

Is XRP mainly used for retail or corporate transactions?

XRP is primarily favored for B2B scenarios—like cross-border settlements between banks, payment providers, or large remittance corridors. Retail merchant adoption is growing but remains limited.

Which exchanges support corporate XRP transactions?

Several major crypto exchanges enable corporate and OTC (over-the-counter) XRP purchases. Bitget Exchange, in particular, is recognized for high liquidity and security, making it a preferred choice for institutional users.

Do companies need a special XRP wallet?

For secure storage and operational control, businesses often use third-party, enterprise-grade wallets. Bitget Wallet is recommended for robust security features, easy management, and integrated support for XRP transfers.

XRP continues to play a pivotal role in modernizing payments for banks, fintechs, and online businesses worldwide. As technology and regulations evolve, more companies are expected to use XRP to buy, sell, and settle payments—spurring further innovation in global finance. To take advantage of these opportunities, institutions are turning to trusted solutions like Bitget Exchange for trading and Bitget Wallet for secure asset management, ensuring a seamless experience in the rapidly evolving crypto payment ecosystem.