Here’s the Scoreboard for Each Partnership

Quick Read

• Ripple closed 10 major deals in 2026, with Deutsche Bank ($1.6T), Société Générale ($1.8T), JPMorgan, and Mastercard’s $9 trillion payment network among the heavyweights. Yet XRP is down 41% from its January peak of $2.42.

• Three deals didn’t touch XRPL at all, and the seven that did still settled in stablecoins like RLUSD. XRP’s only role was paying network fees—even on the year’s most consequential deal, which is the May 6 JPMorgan-Mastercard-Ondo pilot.

• The CLARITY Act could flip the scoreboard. If the Senate Banking Committee passes the markup on May 14, XRP would become a legitimate settlement asset for institutions. Until then, the Ripple’s deal will keep growing while the XRP price keeps stalling.

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Ripple (CRYPTO: XRP) has closed ten major deals so far in 2026, partnering with Germany’s $1.6 trillion Deutsche Bank, JPMorgan, and Mastercard’s $9 trillion payment network. The company also rolled out its full financial stack across Brazil in March, which is its biggest single-country expansion ever. Beyond those 10 majors, Ripple closed around seven smaller partnerships, bringing the year’s total to roughly 17.

Of course, not all ten deals carry the same weight. With XRP down 41% from its January peak of $2.42 and trading at $1.40, holders want to know which deals could move the price. That’s why we’re rating each one on two things: how vital the deal is to Ripple, and its potential XRP price impact. Here’s the scoreboard.

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Q1 2026: From Aviva to Brazil, Ripple’s Biggest First-Quarter Wins

Q1 was Ripple’s busiest stretch so far this year. Three European financial giants signed deals with Ripple in February, all within nine days. Mastercard then followed in March, pulling Ripple into its $9 trillion network. Brazil closed the quarter with Ripple’s biggest single-country expansion ever.

The run started on February 11, when Aviva Investors—the investment arm of UK insurer Aviva with £253 billion in AUM—announced 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 move into tokenization.

A week later, on February 18, Société Générale’s digital arm SG-FORGE picked XRPL as the third blockchain to host its MiCA-compliant 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 tech for cross-border payments and FX 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 firms spend years chasing.

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

Six days later came Brazil. The rollout packed 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 one gave Ripple a different stamp of institutional approval.

Q2 2026: From Convera to JPMorgan, Ripple’s Q2 Deal Run

Q2 is still in motion, but it already looks different from Q1’s European credibility wave. So far, the quarter has brought deals from Korea, the Western Union spinoff, and the May heavyweights—the biggest of which finally put XRPL to institutional work.

The quarter started with Convera, announced March 31—the global commercial payments giant that spun out of Western Union’s business division. The company processes about $190 billion a year in over 200 countries and across 30,000 business clients. The deal uses what Ripple calls a “stablecoin sandwich”—fiat goes in, settles through RLUSD on XRPL, and comes out as fiat on the other end. Convera handles cross-border payments without ever touching crypto directly.

Then, on April 15, Kyobo Life Insurance—Korea’s largest life insurer—settled the first tokenized Korean government bond on blockchain via Ripple Custody, dropping 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.

Moreover, on May 5, Bullish—the institutional crypto exchange—acquired Equiniti in what Garlinghouse called “the biggest crypto deal ever,” bringing traditional capital markets shareholder services onto a crypto platform. Fast forward to May 6, Ondo Finance, JPMorgan’s Kinexys, Mastercard, and Ripple completed a near real-time cross-border tokenized U.S. Treasury redemption.

OUSG settled on XRPL in under five seconds, Mastercard’s Multi-Token Network routed instructions, and JPMorgan delivered USD to Ripple’s Singapore bank account. It was the first time JPMorgan’s private blockchain connected with a public Layer-1 chain. That made it five more major deals in two months so far this quarter.

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

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

In the first camp, three of the deals didn’t touch XRPL at all. Deutsche Bank integrated Ripple’s software but never went near the chain. Mastercard’s Crypto Partner Program added Ripple to a global payments network, but no chain integration came with it. Bullish’s acquisition of Equiniti is a corporate move, so, not a chain deal either. All three boost Ripple’s standing, but XRP sees zero direct benefit.

Now, in the second camp, the other seven deals run on XRPL—but XRP’s only use is as transaction fees, which does not create direct demand. Aviva tokenizes funds on XRPL, while SG-FORGE issues its euro stablecoin EURCV there too. Brazil’s full integration and Convera’s stablecoin sandwich both run on RLUSD. Kyobo and Kbank use Ripple Custody, which spans multiple chains. And the May 6 JPMorgan-Mastercard-Ondo pilot—the most consequential of all—settled in RLUSD too, with fractions of XRP used as network fees.

So the scoreboard’s verdict is that none of the ten major deals created direct XRP demand. Ripple’s infrastructure has won big in 2026, while XRP’s only use is for transaction fees, which is so small that it amounts to barely anything.

Will Ripple’s Deals Ever Impact XRP?

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

So far, Ripple’s payment infrastructure has been winning, whereas the XRP price has been declining. But that could flip when CLARITY passes. Until then, Ripple will keep securing deals and sealing partnerships, but not even one would impact the XRP price at all.

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