Which financial institutions in the US are Ripple working with to use XRP?

Ripple is working with a number of financial institutions in the US to launch its On-Demand Liquidity (ODL) product, which will use XRP to facilitate money transfers. According to Stu Alderoty, Ripple's general counsel, the company has begun talks with US banks and financial institutions to use ODL in Q3 2024, especially after a recent legal ruling from a New York court that stated that XRP does not necessarily qualify as a security in all cases, which should boost confidence for potential customers back in Ripple.

Ripple currently has many international partners, but some major financial institutions such as Santander and Bank of America have also collaborated in the past. It is expected that the growth in partnerships with financial institutions in the US will continue to expand, especially in the context of changing markets and increasingly clear regulations.