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Fact or Fiction: Is Ripple Becoming a Bank?

Published by
Zafar Naik and Nidhi Kolhapur

The crypto community is fired up again – this time, over rumors that Ripple could be planning to get a U.S. banking license. The chatter started after a clip from XRP Las Vegas 2025 made the rounds online, sparking wild speculation that the payments giant might be gearing up to enter traditional banking.

But is any of it true? Let’s unpack what’s fact, what’s fiction, and what’s worth watching.

The Viral Clip That Set Off the Rumors

It all started with a tweet quoting journalist Eleanor Terrett during a panel at XRP Las Vegas. In the clip, the discussion turns to the idea of Ripple becoming a bank. The tweet read:

“Ripple could get a banking license. Because the cost of price in payments is almost zero on the XRPLedger…Banking is just basically like breathing the air.”

That was enough to send speculation into overdrive. Crypto Twitter quickly picked up the idea, with some users claiming it was already in motion. But there’s a problem – Ripple hasn’t said anything.

There’s no official statement, no filings, and no confirmation that a banking license is even being considered.

Greg Kidd’s Role in the Conversation

Adding to the speculation was Greg Kidd, an early Ripple investor and former U.S. congressional candidate. At the same event, he spoke about a new kind of bank charter – one aimed at digital-first companies.

Kidd explained that this charter wouldn’t require companies to have physical branches or offer lending services. Instead, it would focus on deposits and payments only.

While it’s an interesting idea, Kidd made it clear: he’s not speaking on behalf of Ripple, and the charter is still in development. That hasn’t stopped the XRP community from connecting the dots.

Ripple’s Real Banking Moves

Even if Ripple isn’t applying for a license just yet, it’s definitely been making moves in the banking world.

Last year, Ripple became a Platinum Member of the American Bankers Association – a move that gives the company more access to financial decision-makers and regulators.

CEO Brad Garlinghouse has also made Ripple’s position clear: they’re not trying to replace banks, they’re trying to work with them. At the Las Vegas event, he again stressed Ripple’s mission to fix cross-border payments – making them cheaper, faster, and more efficient by cutting out unnecessary middlemen.

Ripple’s long-running legal battle with the SEC could also be nearing a turning point, even though they have clearly won the largest points of contention. Attorney John Deaton recently said there’s a 70% chance that Judge Analisa Torres will approve a settlement deal and relief request.

If that happens, Ripple would be in a stronger position to expand its reach – potentially even under the kind of charter Kidd is working on.

Bottom Line

Right now, the idea of Ripple becoming a bank is just that – an idea. There’s no confirmation. No paperwork. No public plans.

But the interest isn’t coming out of nowhere. Between Ripple’s ties to traditional finance and Greg Kidd’s new charter, there’s clearly movement happening around the edges of the banking world. Whether Ripple takes that step or not remains to be seen.

For now, it’s all eyes on what Ripple says, or doesn’t say, next. We’ll be watching and filling you in! 

FAQs

How would Ripple obtaining a banking license impact the price and adoption of XRP?

If Ripple secures a banking license, it would significantly boost XRP’s legitimacy and adoption. This could lead to increased demand, a potential price surge, and wider institutional use for cross-border payments, especially if it leads to more On-Demand Liquidity (ODL) adoption.

How would a digital-first banking charter change the competitive landscape for traditional banks?

A digital-first banking charter, like the one Greg Kidd discussed, could intensify competition for traditional banks by enabling agile, technology-focused companies to offer deposit and payment services with lower overhead and faster innovation, challenging legacy systems.

How does Ripple’s approach to working with banks differ from other crypto projects?

Ripple explicitly aims to partner with and enhance traditional banks’ existing infrastructure for cross-border payments using XRP as a bridge currency, rather than seeking to replace them entirely, which differentiates its enterprise-focused strategy from many decentralized crypto projects.

Zafar Naik and Nidhi Kolhapur

Zafar is a seasoned crypto and blockchain news writer with four years of experience. Known for accuracy, in-depth analysis, and a clear, engaging style, Zafar actively participates in blockchain communities. Beyond writing, Zafar enjoys trading and exploring the latest trends in the crypto market.

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