In March 2025, Ripple CEO Brad Garlinghouse announced the conclusion of the SEC case, confirming that XRP is not considered a security for public exchange sales, but remains one for institutional sales. After this regulatory clarity, Ripple formed new partnerships with several banks and financial institutions. The SEC officially closed its lawsuit against Ripple Labs over unregistered securities, keeping a $125 million penalty in place and ending one of the most closely watched legal cases in the cryptocurrency world.
List of Major Ripple Partnerships
- BNY Mellon: In July 2025, Ripple appointed the Bank of New York as the primary custodian for Ripple’s U.S. dollar-pegged stablecoin, Ripple USD (RLUSD).
- Hidden Road: In April 2025, Ripple acquired prime brokerage firm Hidden Road for $1.25 billion. The acquisition aims to strengthen Ripple’s position in bridging traditional finance and digital assets, controlling key transaction rails, leveraging the XRP Ledger (XRPL) for institutional services, and integrating RLUSD as collateral.
- Dubai Land Department & Ctrl Alt: In July 2025, Ripple partnered with these organizations to support the tokenization of real estate on the XRP Ledger.
- Canadian Imperial Bank of Commerce (CIBC), Canada: The alliance, initially formed in 2016, expanded in July 2025. CIBC provided growth capital financing to Ripple Operations, a company focused on crew success technology for the maritime industry.
- SBI Remit & SBI Holdings, Japan: In August 2025, SBI signed a Memorandum of Understanding (MOU) with Ripple and SBI VC Trade to introduce Ripple’s U.S. dollar-backed stablecoin, RLUSD, to the Japanese market by 2026.
Ripple Expands Global Collaborations
Overall, Ripple has partnered with more than 100 financial institutions globally and continues to expand. Using RippleNet technology and the XRP Ledger, it enables fast and efficient cross-border payments.
Some companies, like South Korea’s digital asset custodian BDACS, partnered with Ripple before the SEC ruling. After regulatory clarity, BDACS began offering XRP custody services in August 2025. With compliant infrastructure, rising demand, and clear regulations, Ripple is thriving.
Ripple also applied to the Office of the Comptroller of the Currency (OCC) for national trust bank charters in July 2025. This will allow Ripple to operate federally chartered banks, gain legitimacy, operate across state lines, and hold stablecoin reserves with direct access to the Federal Reserve’s payment infrastructure.
