A Bank of America exec just praised Ripple as a partner because of its way of delivering quality services. In an interview, the Bank of America exec noted how Ripple complied with any requirements with the bank which is why we are reading more in the following XRP price news below.
Julie Harris, the head of global banking commented on a podcast a few days ago, about the emerging payment options available for businesses and the need for faster and efficient methods. Harris commented:
‘’…it’s not about our platform and our capabilities, it’s about you as a client and the infrastructure you have and the ability for us to integrate, whether that’s with platforms and capabilities that we built or partnerships that we have with the likes of Ripple or Swift. These are Fintechs that we’re partnering with. They’ve come through all of our rigor of legal and compliance and we’re able to leverage our banking as a platform to deliver that to you.’’
Harris didn’t explain further on how the bank could be using Ripple in the future. She mentioned Swift in the same context so it is safe to say that the cross-border payments are a big part of the plan. There have long been speculations that the Bank of America will start using Ripple. Ripple even confirmed back in October that it had been working with the bank for a few years now but only acknowledged that this was only a pilot project. The banking giant hired one ripple specialist but didn’t provide further details.
The major rumor was that the Bank of America aims to start using RippleNet and if this is true, it could have a strong impact on the platform. It is also worth noting that there are other means by which the bank will embrace ripple technology. The Bank of America didn’t make any official statements about the plans for Ripple yet. There is no doubt that the banking industry is exploring the use of the DLT and the blockchain assets are all but certain to become a mainstream element of global finance in the near future.
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