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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
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
