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BankSocial’s CEO, John Wingate, stirred up chatter this week by saying he met with Ripple’s team. He called it “possibly the greatest meeting in the history of international settlements.” It got people talking about whether BankSocial, Hedera, XRP and Ripple are about to team up in a big way. But so far, no one outside Wingate’s circle has confirmed a deal.
BankSocial Adds XRP To Roadmap
Based on reports, Wingate still sees HBAR as a major piece of BankSocial’s plan. He wrote that HBAR will power backend operations and state checks. He also said XRP is now part of the mix. That hints at a dual-chain setup, with HBAR handling the heavy lifting and XRP moving money between borders. His words were clear: HBAR stays core, but XRP steps into the picture too.
Just had a meeting with the @Ripple team.
A great meeting. Maybe the greatest meeting in the history of international settlements.@hedera and $HBAR are still a huge part of the strategy.
And now, so is $XRP
You’re not thinking BIG enough. Think BIG – then 1000000000x it.
— John Wingate (@PresidentHODL) May 23, 2025
Three Tokens, Three Roles
According to Wingate, each token has its job. HBAR runs the Hedera Consensus Service for checking states and handling network messages. XRP moves cash across borders, especially into certain jurisdictions. BSL, BankSocial’s own token, is for lending, staking and running its DAO. Short story: HBAR does the engine work, XRP moves the money, and BSL runs the bank’s in-house features.
Billion-X Ambitions
In his post, Wingate challenged followers to “think BIG, then 1,000,000,000x it.” He wants a massive network that links banks, blockchains and countries. That’s a big ask. It points to a goal of tokenizing real-world assets and moving them without the usual delays or fees. If it works, it could reshape how banks use blockchain tech. But he didn’t share any timelines or proof of concept.
Multichain. XRP too 🫶
— BankSocial.io (@BANKSOCIALio) May 19, 2025
Unconfirmed Partnership Details
On May 19, BankSocial replied to a teaser about its new platform with “Multichain. XRP too.” That suggests the upcoming system—built on Hedera—will add XRP Ledger support. Yet there’s no press release from Ripple or Hedera saying they’ve signed on. Based on reports, this remains a well-publicized rumor more than a formal pact. Developers and users haven’t seen a test network or demo.
Wingate also hinted at this two-chain plan back in March. He said BankSocial works with banks and governments on asset tokenization and cross-border cash movement. He named both XRP and HBAR as “major components.” He even pointed out they’re part of the DeRec Alliance, a group set on building open finance tools.
For now, the market is watching. If BankSocial can pull off a three-token setup, it might open new paths for banks to handle crypto and stocks directly from customer accounts. But until code appears or an official alliance is announced, this is still a story in progress. Keep an eye on Wingate’s next posts and any updates from Ripple or Hedera.
Featured image from Gemini Imagen, chart from TradingView
