RippleNet

RippleNet is a global payments network established by Ripple (formerly Ripple Labs) to enable faster, more transparent cross-border payments between banks and financial institutions. The network connects member entities through a shared set of messaging, settlement, and interoperability standards, with the aim of reducing the time and cost of international transfers.

RippleNet’s product suite has traditionally included three main components. xCurrent provides real-time messaging and settlement between banks for cross-border payments. xVia is a standardized API that enables corporates and payment providers to route payments into RippleNet. On-Demand Liquidity (ODL), formerly known as xRapid, uses XRP as a bridge currency to provide liquidity for cross-border transfers and reduce the need for pre-funded nostro accounts. Ripple has described RippleNet as interoperable with other ledgers and payment networks through protocols such as the Interledger Protocol (ILP).

In operation, RippleNet aims to streamline correspondent banking rails by enabling faster settlement, greater visibility into payment statuses, and potential liquidity optimization for financial institutions. The network supports multi-jurisdictional transfers and can route payments across participating banks and providers with standardized messaging and settlement rules.

Adoption and scope have grown substantially since the network’s inception, with a broad and international roster of banks and payment providers participating in RippleNet. The network’s development has been accompanied by ongoing regulatory engagement and compliance efforts, reflecting the evolving landscape for cross-border payments and digital assets.