Bank Of America Reportedly Taps RippleNet

Bank Of America Reportedly Taps RippleNet

Bank of America is your second-largest banking establishment in America. The lender has been investigating the technologies for many decades now. As demonstrated by a post on Twitter which will put lovers in high spirits now, Bank of America might be joining RippleNet. Bank of America (BofA) isn’t a stranger to Ripple tech. In July of this past year, the lender registered a patent application for a real-time global payment system which will be predicated on Ripple’s dispersed ledger technologies (DLT).

In case the partnership is confirmed as pointed out, the lender will probably be utilizing the  cross product to facilitate payments between Mexico and the United States at first expanding to the Middle East, Latin America, Europe, and Asia. Waiting however, it appears this might be the very first public announcement that Bank of America, is in reality, linking RippleNet. Yes, this does not mean they’ll use ODL (XRP) however, but it will let them start using it in the flip of a change should they choose. It’s well worth noting that Ripple nor even BofA has formally confirmed the information at this time. It will be news for the Ripple community if it’s indeed accurate. What’s Inside For XRP? As above, the report claims Bank of America will probably be utilizing RippleNet. RippleNet has gathered over 300 clients around the globe who comprise payment suppliers banks, and businesses. The bank will join the RippleNet consortium. This doesn’t eliminate the chance of the lender utilizing the item at a subsequent stage.

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