In the Philippines, for instance, UnionBank has become the first fully licensed virtual-asset bank and has adopted RippleNet and ODL to support faster inbound transfers. ChinaBank, another bank in the Philippines, in collaboration with Qatar National Bank, has implemented XRP-backed transfers to eliminate intermediary banks for transactions between Qatar and the Philippines.
In India, major private banks like Yes Bank and Axis Bank are using XRP to support live remittance corridors linking the country to Southeast Asia, Mexico, and Brazil.
Interestingly, Ripple is also deepening its reach in Brazil and other countries in Latin America. Travelex Bank in Brazil, the first FX-focused bank licensed to use ODL in the region, relies on XRP to remove the need for pre-funded liquidity. In Mexico, Ripple’s partnerships with local non-bank financial entities support real-time payouts using XRP.
