Santander, Bank of America, and SBI Holdings are among over 100 financial institutions globally testing XRP for cross-border payments. These banks aim to leverage XRP's blockchain technology to enhance transaction speed and reduce costs. Santander has conducted trials with RippleNet, Bank of America is assessing XRP's capabilities, and SBI Holdings utilizes XRP through SBI Remit for remittances to the Philippines and Vietnam. XRP's blockchain ledger offers a faster and more cost-effective alternative to traditional systems like SWIFT.