Travelex Bank ramps up Ripple roll-out as US payments body names Ripple a G20 innovator
Travelex Bank — the first foreign-exchange bank approved by Brazil’s Central Bank — is deepening its use of Ripple’s XRP Ledger-powered payments stack to offer round-the-clock, near-instant cross-border settlement, a move spotlighted April 27 after analyst ChartNerd flagged the developments. The same day, the US Faster Payments Council identified Ripple (alongside Stellar) as a leading innovator for G20 domestic and cross-border payments modernization.
Why this matters
- Speed and cost: Travelex says it’s using Ripple Payments to settle transfers in seconds instead of the days typical of correspondent banking. XRP’s sub-second to multi-second settlement times and very low per-transaction costs are central to that improvement.
- Market scale: Brazil handles more than $780 billion in annual cross-border flows, making faster, cheaper corridors there especially impactful for remittances and commercial payments.
- Regulatory convenience: Travelex’s status as Brazil’s first Central Bank-approved foreign-exchange bank gives it a compliance foundation that reportedly simplifies adopting blockchain infrastructure versus conventional commercial banks.
A growing relationship
Travelex was the first institution in Latin America to adopt Ripple’s On-Demand Liquidity (ODL) with XRP in August 2022, and reportedly gained ten new clients within a year of joining the network. The bank’s expanded rollout now uses Ripple’s end-to-end infrastructure to cut operational costs, eliminate intermediaries, reduce pre-funded capital needs in certain corridors, and provide 24/7 settlement access.
Recognition within the G20 payments agenda
The US Faster Payments Council’s inclusion of Ripple as a G20 innovator is notable given the shifting industry perception since Ripple’s legal clash with the SEC began in 2020. The designation is not a formal certification, but it highlights Ripple’s relevance to the G20’s payments roadmap, which targets:
- By 2027: 75% of cross-border transfers credited within one hour and transaction costs reduced toward one cent.
- By 2030: at least 90% of the global population should have access to at least one cross-border remittance provider.
Ripple’s broader April 2026 push
April 2026 has been a high-activity month for Ripple’s institutional expansion:
- Korea: A blockchain remittance proof-of-concept with KBank (April 27) and an earlier institutional deal with Kyobo Life Insurance (April 15).
- Licensing and approvals: Acquisition of BC Payments Australia to secure an Australian Financial Services License ahead of new regulations (effective June 30, 2026); prior approvals in Singapore, the UAE, the UK and Ireland; and conditional approval from the US Office of the Comptroller of the Currency for a national trust banking charter.
- Industry testing: SWIFT has reportedly tested Ripple ODL and XRP as potential integration candidates for its cross-border modernization work.
Technical alignment with G20 goals
Ripple emphasizes ISO 20022 compliance, on-demand liquidity management, and very fast settlement as features that align it technically with the G20’s target specifications for faster, cheaper, and more inclusive cross-border payments.
Bottom line
Travelex Bank’s expanded adoption of Ripple Payments and the Faster Payments Council’s recognition together signal growing institutional acceptance of blockchain-based rails for large-market corridors like Brazil. While the Council’s report isn’t an endorsement, the moves underscore how projects such as Ripple are positioning themselves as practical contenders in the race to meet ambitious G20 payments targets.
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