A former Ripple employee revealed 8 clients that have integrated RippleNet between August 2018 and October 2020.
The employee worked at Ripple as an Integration Engineer from August 2018 to October 2020 and then moved to the position of Software Engineer until January 2021. During his time as an Integration Engineer, he guided banks in deploying RippleNet software to enable real-time cross-border payments and resolved critical path challenges every day for bank and payment company providers to launch new corridors in the Americas.
What’s interesting is the clients he worked with, which are: American Express, PNC Bank, BBVA Transfer Services, UniTeller (Grupo Financiero Banorte), Banco Bradesco S.A., TempusFX, Payment Approved, and Miienvio (S.A.).
Some of these clients like American Express, PNC, Banco Bradesco, and TempusFX have been known to work with Ripple. However, the rest of the companies have not been confirmed of joining RippleNet, until now.
BBVA Transfer Services
Banco Bilbao Vizcaya Argentaria, S.A., better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao, Spain. It is one of the largest financial institutions in the world and is present mainly in Spain, South America, North America, Turkey, and Romania.
BBVA Transfer Services (BTS) is a member of the worldwide group of BBVA. It has been in the money remittance business for more than twenty years. According to the former Ripple employee, BTS is a Ripple client and a RippleNet member.
Uniteller (Grupo Financiero Banorte)
Grupo Financiero Banorte is a Mexican banking and financial services holding company with headquarters in Monterrey and Mexico City. It is one of the four largest commercial banks of Mexico by assets and loans, and the largest retirement fund administrator. Banorte Bank was revealed as a Ripple customer back in August 2020. However, it isn’t until now that Uniteller, an international money transfer processing company based in the United States that was acquired by Banorte in 2007, was revealed to be a member of RippleNet. Uniteller attended Swell, Ripple’s annual conference in 2019. Crypto Eri did a video on Banorte and Uniteller back in August 2020.
Miienvio is a platform that facilitates money transfers between people in Chile and throughout the European Union through a local-local transaction system (the money does not leave the country of origin). After contacting Miienvio, it has been confirmed that they are indeed Ripple clients.
Payment Approved, based in Austin Texas, offers financial tools that help businesses access an end-to-end solution for payments and money movement, making it easier to stay connected and in control of their future. After our inquiries, Payment Approved clarified that it has suspended processing transactions until Ripple secures a satisfactory conclusion in the SEC litigation. Not surprising, since Payment Approved is based in the US.
Despite the lawsuit, Ripple has continued to sign new customers but has not provided an update on the number of its clients since November 2019. Ripple has also changed its customer metrics on its website from 300+ to 3X YOY (year on year) customer growth.