Ripple (XRP) Has Closed 10 Major Deals This Year – Here’s the Scoreboard for Each Partnership

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• Ripple closed 10 major deals in 2026, with Deutsche Bank ($1.6 trillion), Société Générale ($1.8 trillion), JPMorgan and the $9 trillion Mastercard payments network among the heavyweights. However, XRP is down 41% from its January high of $2.42.

• Three deals didn’t touch XRPL at all, and the seven that did were still settled on stablecoins like RLUSD. XRP’s only function was to pay network fees, even in the biggest deal of the year, which is the May 6 JPMorgan-Mastercard-Ondo pilot.

• The CLARITY Act could turn the tables. If the Senate Banking Committee approves the margin on May 14, XRP would become a legitimate settlement asset for institutions. Until then, the Ripple deal will continue to grow while the price of XRP remains stagnant.

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Ripple (CRYPTO: The company also rolled out its full financial package across Brazil in March, marking its largest expansion in a single country to date. Beyond those top 10, Ripple closed about seven smaller partnerships, bringing the year’s total to about 17.

Of course, not all ten agreements have the same weight. With XRP falling 41% from its January high of $2.42 and trading at $1.40, holders want to know what deals could move the price. That’s why we rate each one based on two things: how vital the deal is for Ripple and its potential impact on the price of XRP. Here is the score.

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Q1 2026: From Aviva to Brazil, Ripple’s biggest wins in Q1

The first quarter was Ripple’s most active stretch so far this year. Three European financial giants signed deals with Ripple in February, all within nine days. Mastercard then followed in March, adding Ripple to its $9 trillion network. Brazil closed the quarter with Ripple’s largest expansion in a single country to date.

The race began on February 11, when Aviva Investors, the investment arm of British insurer Aviva with £253 billion in assets under management, announced that it would tokenize traditional funds on the XRP Ledger (XRPL). It was Ripple’s first deal with a European asset manager and Aviva’s first step towards tokenization.

A week later, on February 18, Société Générale’s digital arm, SG-FORGE, chose XRPL as the third blockchain to host its MiCA-compatible euro stablecoin (EURCV), after Ethereum and Solana. France’s third largest bank ($1.8 trillion in assets) is now issuing regulated euros on Ripple’s ledger.

The next day, Deutsche Bank, Germany’s largest bank with $1.6 trillion in assets, announced it would integrate Ripple’s technology for cross-border payments and foreign exchange workflows. The bank uses Ripple’s software stack rather than XRP directly, but having a name like Deutsche on board was the credibility most blockchain companies spent years chasing.

Then, on March 11, Mastercard added Ripple to its Crypto Partner Program, putting the company into a $9 trillion payments network alongside Binance, Circle, and PayPal. The program focuses on cross-border remittances and B2B payments, exactly Ripple’s core market.

Six days later Brazil arrived. The launch included five integrated products, six institutional partners (including Banco Genial and Braza Bank) and a VASP license application with Brazil’s central bank. That made it five major deals in five weeks, and each gave Ripple a different stamp of institutional approval.

Q2 2026: From Convera to JPMorgan, Ripple’s Q2 deal

The second quarter is still moving, but it already looks different from the wave of European credibility of the first quarter. The quarter so far has brought deals from Korea, the Western Union spinoff, and May’s heavyweights, the biggest of which finally put XRPL to work institutionally.

The quarter began with Convera, announced on March 31, the global commercial payments giant that emerged from Western Union’s business division. The company processes around $190 billion a year in more than 200 countries and with 30,000 commercial clients. The agreement uses what Ripple calls a “stablecoin sandwich”: fiat money goes in, it is settled through RLUSD on XRPL, and it comes out as fiat money on the other end. Convera handles cross-border payments without touching cryptocurrencies directly.

Then, on April 15, Kyobo Life Insurance, Korea’s largest life insurer, settled the Korean government’s first tokenized bond on blockchain via Ripple Custody, reducing settlement times from two days to near real-time. Two weeks later, on April 30, Kbank—Korea’s first internet-only bank and Upbit’s exclusive banking partner—deployed Ripple Custody’s wallet infrastructure for stablecoin-based remittances.

Additionally, on May 5, Bullish (the institutional cryptocurrency exchange) acquired Equiniti in what Garlinghouse called “the largest cryptocurrency deal in history,” bringing traditional capital markets shareholder services to a cryptocurrency platform. Fast forward to May 6, Ondo Finance, Kinexys, Mastercard, and JPMorgan’s Ripple completed a tokenized cross-border bailout of the US Treasury in near real-time.

OUSG liquidated XRPL in less than five seconds, Mastercard’s Multi-Token network sent instructions, and JPMorgan delivered USD to Ripple’s bank account in Singapore. It was the first time JPMorgan’s private blockchain was connected to a public Layer 1 chain. That makes it five more major deals in two months so far this quarter.

The Scoreboard: Ranking Ripple’s Top 10 Deals in 2026

Each of these ten offerings is a clear victory for Ripple. However, for XRP, only one thing matters: does the deal drive demand for the token itself? We did that test and most deals fell into one of two camps.

In the first camp, three of the deals did not touch XRPL at all. Deutsche Bank integrated Ripple’s software but never approached the chain. Mastercard’s Crypto Partner Program added Ripple to a global payments network, but did not include any on-chain integration. Bullish’s acquisition of Equiniti is a corporate move, so it’s not a chain deal either. All three increase Ripple’s position, but XRP sees no direct benefit.

Now, in the second camp, the other seven agreements are run on XRPL, but the only use of XRP is as transaction fees, which does not create direct demand. Aviva tokenizes funds in XRPL, while SG-FORGE also issues its euro stablecoin EURCV there. Brazil Full Integration and Convera Stablecoin Sandwich are powered by RLUSD. Kyobo and Kbank use Ripple Custody, which spans multiple chains. And the May 6 JPMorgan-Mastercard-Ondo pilot, the most consequential of all, was also resolved in RLUSD, with fractions of XRP used as network fees.

So the scoreboard verdict is that none of the top ten deals created direct demand for XRP. Ripple’s infrastructure gained a lot in 2026, while the only use for XRP is for transaction fees, which are so small they barely amount to anything.

Will Ripple Offers Ever Impact XRP?

The Ripple deals could impact XRP, but not until the CLARITY Act is passed. The bill is scheduled to be approved by the Senate Banking Committee on May 14 and would block XRP’s commodity status in federal law. That gives institutions the legal cover they need to use XRP for settlement at scale.

So far, Ripple’s payments infrastructure has been winning, while the price of XRP has been falling. But that could change when CLARITY passes. Until then, Ripple will continue to secure deals and seal partnerships, but even one would not affect the price of XRP at all.

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