Alleged NDA Ties Ripple, JPMorgan, and BlackRock to XRPL Identity Protocol

An alleged leak from a former Swiss banker has ignited speculation about Ripple’s ambitions beyond payments.

If authentic, the NDA suggests Ripple’s infrastructure is being positioned as more than a remittance tool.

Ripple’s Alleged Blueprint for Identity-Linked Settlement Rails

Using the alias Lord Belgrave, the anonymous ex-banker shared excerpts of a Mutual Non-Disclosure and Strategic Cooperation Agreement.

It hints at a broader convergence of finance, digital identity, and compliance on the XRP Ledger (XRPL). A Swiss banking major and a US blockchain infrastructure company are reportedly involved.

The purpose clause alone raised eyebrows, making references to biometric identity mapping. Other interesting references include tokenized financial instruments and cross-border settlement via protocol-agnostic rails.

More closely, terms like “neutral, protocol-agnostic mechanisms” appear to reference bridge assets such as XRP. Meanwhile, mentions like “multilayered liquidity corridors” point toward integrating fiat rails, tokenized securities, and CBDCs under interoperable frameworks.

Perhaps most notable is the mention of biometric identity mapping, a feature rarely seen in traditional banking agreements.

This aligns with what JPMorgan recently called the foundation of Web3, citing digital identity as a prerequisite for financial integration.

“Data structures and commercial relationships will be markedly different in the Web3 era, requiring verification methods that are more streamlined, secure, and trustworthy to support them…The time is right for a new type of identification, created with digital channels in mind. Built for Web3, it will be irrefutable, immutable, and controlled entirely by the person who owns it,” read an excerpt in the JPMorgan report.

Ripple, through XRP Ledger projects, has already begun experimenting with healthcare payments.

Wellgistics Health, for instance, announced an XRPL-powered system to process transactions across 6,500 US pharmacies.

“The program enables pharmacies to pay for products and move funds instantly, more cost-effectively, and with full transparency-eliminating delays, high fees, and reliance on traditional banking and credit card networks,” the firm stated.

Coupled with BlackRock’s XDNA ETF launch on July 4, which some see as a symbolic step toward blockchain-based health finance, the pieces suggest an identity-finance-healthcare convergence.

XRPL is at the Crossroads of Politics and Fundamentals

The timing also feeds into a political narrative. US President Donald Trump has pushed digital healthcare reform, while BlackRock’s XDNA ETF arrived the same day his administration unveiled cost-cutting measures in the sector.

Crypto commentators speculate this was not a coincidence but a coordinated pivot toward on-chain health data and payments.

Meanwhile, Ripple’s global outreach, through partnerships with Chipper Cash, Onafriq, and regional expansions across MENA, appears to support a “DNA Protocol” quietly onboarding labs and service providers in Africa.

The goal, critics argue, could be embedding identity-linked settlement systems into global finance from the ground up.

Meanwhile, supporters view it as evidence that Ripple is laying the rails for a neutral, institution-grade settlement backbone.

Elsewhere, fundamentals challenge XRPL’s technical outlook, showing that they do not match the hype. Recent reports flagged a 38% decline in transaction count, with only $90 million in total value locked (TVL) despite a $190 billion market valuation.

This contrast captures Ripple’s crossroads. Is the XRPL an underappreciated global backbone for digital markets, or a dangerously overvalued bet on unrealized potential?

The XRPL team did not immediately respond to BeInCrypto’s request for comment.