The global financial system is entering a transformative phase as blockchain technology moves from concept to reality. Transactions that once relied on decades-old banking infrastructure are increasingly shifting to decentralized ledgers, enabling instant, transparent, and secure settlements.
XRP and the XRP Ledger, long positioned as tools for cross-border payments, now play a central role in this evolution, bridging traditional finance with digital innovation.
In a recent X post, John Squire highlighted an interview with former Ripple executive Greg Kidd, who outlined how years of planning are coming to fruition. Kidd described the acquisition of regulated banks and the integration of fiat currencies directly onto the XRP Ledger.
He emphasized that this development executes a vision first discussed nearly a decade ago: putting the banking system itself on-chain. With licenses approved in both the UK and the EU, XRP now serves as a backbone for regulated, on-chain financial activity.
HE SAID IT. NOW IT’S HAPPENING.
Banks moving on chain. Licenses approved in the EU and UK. Fiat currencies going live on XRPL.
What Greg Kidd said is now being executed.
Watch the video. #XRP
Credit @DigPerspectivespic.twitter.com/rCLz5NFya7— John Squire (@TheCryptoSquire) January 16, 2026
Banking on the Blockchain
Kidd explained that acquiring BAST Bank, an OCC nationally chartered U.S. bank, enabled the issuance of U.S. dollars directly on the XRP Ledger. These dollars remain FDIC-insured and fully compliant, offering chargeback protections for users.
By embedding fiat into a blockchain framework, payments no longer need to traverse multiple intermediaries, reducing settlement times, lowering costs, and improving transparency.
This model also redefines remittances: money stays on-chain, eliminating the traditional concept of cross-border transfers while maintaining compliance under U.S. regulations.
Expanding Globally
The on-chain banking model extends beyond the United States. Kidd revealed that Ripple has invested in the Bank of London and is finalizing a bank acquisition in Europe to put pounds and euros on the XRP Ledger.
This expansion enables 24/7 movement of fiat on-chain, making XRP a global settlement layer capable of handling multiple currencies efficiently. By creating regulated, blockchain-native banking channels, Ripple ensures that traditional financial systems can operate within the security and transparency of decentralized technology.
Implications for Financial Infrastructure
These developments highlight the XRP Ledger’s role as more than a cryptocurrency network; it functions as a fully operational financial infrastructure. By combining speed, scalability, and regulatory alignment, XRP allows banks and institutions to offer modernized payment services without compromising compliance.
As fiat currencies go live on-chain and banks integrate directly with the ledger, Ripple demonstrates how blockchain can reshape global finance from the ground up.
XRP’s Strategic Position
Greg Kidd’s insights highlight that XRP is positioned to support a new era of digital finance. With operational ledgers, licensed banks, and multi-currency capabilities, XRP now moves beyond speculation into real-world utility, serving as the backbone for on-chain banking and the future of global financial infrastructure.