Ripple reports 13,000 bank connections, $12.5T volume; CTO rejects NDA rumors

Ripple CTO rejects NDA hype; Ripple cites 13,000 banks and $12.5T volume

Ripple’s CTO David Schwartz said 1,700 NDAs are routine. He called claims of secret adoption plans “almost always completely false.”

Ripple is promoting its treasury platform. The company highlights 13,000 connected banks and $12.5T in annual payment volume.
Ripple’s post outlines the metrics. The product page frames it as a unified treasury stack.
Ripple Treasury overview explains the platform.

These figures follow Ripple’s 2025 buyout of GTreasury. The deal was reported at $1B and brought an existing institutional network under Ripple.

Investor Patrick L. Riley noted the 13,000-bank count implies broad international reach. The US alone has 4,000+ banks and a similar number of credit unions.

Some XRP supporters had tied Ripple’s NDAs, disclosed during SEC v. Ripple Labs, to banking partnerships. The latest network and volume numbers go beyond those earlier disclosures.

Price projections are under scrutiny. Riley floated a scenario where XRP reaches $625 if 20B XRP handles all $12.5T in flows. XRP trades near $1.37. Analysts say the model hinges on liquidity and token velocity.

Key friction remains. Ripple’s payments can run without XRP. It is unclear what share of the $12.5T actually moves via XRP versus Ripple’s broader infrastructure.

Schwartz kept it blunt. “Almost always completely false,” he said of hidden catalysts. NDAs cover normal confidentiality, not secret government plans.