Advanced Evaluations of XRP Ledger Settlement Architecture
A former City of London banker, known online as Lord Belgrave, asserts that major European financial institutions have been conducting more advanced and in-depth evaluations of XRP Ledger (XRPL) settlement architecture than publicly acknowledged. Belgrave shared a detailed account, describing how he witnessed confidential materials indicating that leading banks were modeling XRP as a preferred bridge asset for next-generation cross-border payment systems.
In a recollection shared on social media, Belgrave detailed an incident during a review session held within a secure room at a European banking headquarters in Amsterdam. He stated that two significant institutions, ING and BNP Paribas, had internal teams independently working on next-generation settlement layers. The primary objective of these teams was to overcome the inefficiencies inherent in existing correspondent banking frameworks. Belgrave, who was invited to observe a portion of the session to align with his team's cross-border strategy, emphasized that the documents presented were not theoretical whitepapers but rather operational blueprints.
ING and BNP Paribas Conducted Settlement Architecture Reviews
According to Belgrave, the session involved reviewing extensive documentation that outlined long-standing frictions within the traditional correspondent banking system. These frictions included issues related to liquidity buffers, reconciliation delays, and capital inefficiencies that accumulate across multi-corridor networks. Belgrave stated that these documents reflected the significant depth of internal bank research aimed at replacing outdated settlement flows.
I still remember the moment clearly. It was a brief window during a review session in a secure room at a European headquarters in Amsterdam. Two major institutions were involved, ING and BNP Paribas. Both had internal teams working on next generation settlement architecture. I…
Lord Belgrave (@LordBelgrave) November 29, 2025
He recalled page after page detailing these long-standing issues within the traditional correspondent banking system, including liquidity buffers, reconciliation delays, and capital inefficiencies that accumulate across multi-corridor networks. These documents, he said, reflected the depth of internal bank research into replacing outdated settlement flows.
XRP Ledger Identified as Preferred Settlement Layer in Key Scenarios
Among the reviewed materials, Belgrave highlighted a comparative model titled “Settlement Layer Candidate Evaluation.” In this model, the XRP Ledger was presented as the preferred bridge asset when immediate finality, deterministic transaction confirmation, and multi-currency atomic settlement were essential requirements. The documents reportedly outlined projected reductions in nostro balances across six major payment corridors, including EUR/GBP, EUR/AED, and EUR/SGD. These corridors are areas where liquidity efficiency is a persistent challenge for traditional financial rails.
Furthermore, another section of the documents reportedly described latency tests conducted by BNP Paribas using simulated payment flows. Belgrave indicated that settlement times were measured in seconds, a significant improvement over the days typically associated with traditional methods. The energy profile of XRPL was also highlighted as a key advantage in future operational cost structures, noted for being significantly lower than other models under review.
Belgrave also mentioned that an appendix referenced regulatory consultations with the Dutch Central Bank and France’s Prudential Authority. These consultations focused on how on-ledger identity metadata could be aligned with upcoming European compliance and reporting frameworks.
Cost Analysis Revealed Significant Efficiency Gains
Belgrave described the final page he observed as a cost sensitivity analysis that compared the current overhead costs of correspondent banking with those of an XRP-based settlement rail. He characterized the difference as “staggering,” noting that the XRP Ledger offered substantial improvements in both liquidity efficiency and operational certainty.
Although his direct observation of the documents was brief, Belgrave concluded that European banks have been studying and preparing for a transition to blockchain-based settlement systems with a far greater level of depth than is widely understood. His account suggests that major institutions may have already tested and validated the capabilities of XRPL for real-world, multi-corridor cross-border payment flows behind the scenes.