There is no Official Deal Between RippleNet and Bank of America

2020-2-22 06:00

One often heard comment is how no banks will ever use Ripple or XRP. The recent RUMORED addition of Bank of America to RippleNet seems to change that narrative significantly.

The RippleNet ecosystem connects hundreds of banks and financial service providers around the globe.

Bank of America Needs to Innovate

Getting more members on board remains an ongoing process. 

Participants of RippleNet will be able to benefit from Ripple’s technology, including the XRP-powered On-Demand Liquidity solution.

Rumor has it that the latest member to join the ranks will be none other than Bank of America.

This has not been officially confirmed by any sources, and may be a mere hoax.

Given this company’s position in the US financial industry, it would be a pretty big addition for Ripple if true.

To date, the company primarily noted big successes in Asia.

Expansion in the Western world has been relatively slow going, for some reason.

It would not be the first time that Bank of America and Ripple join forces for experimentation.

Both firms have successfully conducted pilot projects, albeit there were never turned into full-fledged services or products.

Given the evolving needs of customers, embracing innovative solutions is crucial for any financial institution. 

There could be benefits provided by RippleNet for BoA’s US-Mexico payment corridor, if it ever were to be implemented

If successful, an expansion to European markets is not out of the question.

All of rumored these developments paint  a very interesting picture for the future of Ripple.

Image(s): Shutterstock.com

The post There is no Official Deal Between RippleNet and Bank of America appeared first on NullTX.

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ripplenet banks → Результатов: 47


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2019-4-15 16:14


RippleNet’s ‘Multi-Hop’ Feature to Ease Cross-Border Transactions in S. East Asia

In traditional banking, for there to be a cross-border payment, two banks had to be directly connected on a one-on-one basis. The situation in the Association of South Eastern Asian Nations (ASEAN) was exactly this way up until the Siam Commercial Bank (SCM) –  a member of RippleNet – became the first financial institution in […] The post RippleNet’s ‘Multi-Hop’ Feature to Ease Cross-Border Transactions in S. East Asia appeared first on Ethereum World News.

2018-9-29 10:51


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RippleNet Extends Its Reach to 40 Countries for Remittance and SME Transactions

In a world with an ever-growing number of digital currencies and blockchain projects, Ripple is unique as it came with a predefined and much-needed use case. The blockchain technology was to be used to help large institutions like banks easily transfer money globally without going through the hassles of foreign exchange rates and days of […] RippleNet Extends Its Reach to 40 Countries for Remittance and SME Transactions was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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We’ve said it before and we’ll say it again: The future is here. Blockchain is no longer just a buzzword, but a leading solution for sending global payments. In fact, the momentum is visible: RippleNet currently counts 11 of the world’s top 100 banks by total assets as customers, all of whom are at various … Continued The post The World’s Biggest Banks Lead the Blockchain Charge appeared first on Ripple.

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