Ripple and XRP are now among the big names in the crypto industry. As soon as something turns to Banking, must not Ripple, and also XRP is missing. Again and again, Ripple, banks and payment service providers and payment manages to convince solutions. The last Mega-partnership with Finastra shows interest in Ripple more than clear. Now, the company is making headlines again and this time it is a heavy weight. Bank of America, the second largest Bank in the United States, does not want to seemingly test the technology of Ripple, but also soon in the own System.
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Ripple and XRP soon at the Bank of America?
Ripple has already been mentioned at the end of 2018, the Bank of America as a “customer” of a presentation. The Bank has carried out the test series but quite secretly, and little to no information to the outside left. In the face of continuing scepticism in the Banking currencies-sector in relation to Blockchain and Crypto, wasn’t wrong in this setting certainly.But that’s exactly why it remains unclear whether and to what extent the Bank of America has tested the Distributed Ledger Technology (DLT) technology of Ripple. Before some month, has applied for a Patent for a payment and settlement system by Bank of America, which was related to the XRP Ledger.
Bank of America with a display of the “ripple project”
However, there are currently more than guesses. A formal job offer from the Bank of America, suggests a larger project with Ripple and the associated DLT technology hope. The Bank is looking for a project Manager in the context of a “ripple project”. According to a spokesman for the Bank, is partnering with the Fintech company since 2016. This could be a further indication that the test phase is already completed and it goes to the next round.Trading crypto-currency CFDs, in the case of Skilling. Bitcoin and Crypto CFDs with competitive Spreads, transparent pricing, and ultra-fast order execution. Most Skilling today and see for yourself.Get started now!
What is the role of XRP in partnership with Ripple?
Much more interesting is probably currently the most, how this cooperation can have an impact on XRP and the Ripple rate. At this point, we should hold that Bank of America has expressed at any time an interest in the use of XRP as a bridge currency and On-Demand Liquidity (ODL, earlier xRapid). Accordingly, we can currently only assume that the Bank will focus on xCurrent. Similar to other partners of Ripple, such as the Santander, PNC, and American Express. The function of xCurrent does not include the use of XRP.But the hope remains that other payment solutions of the Ripple to be used in the future and XRP can be its actual Use-Case requirements. Something similar happened to MoneyGram, the only decided after a number of years for the commercial use of ODL.What will be the impact the partnership with Bank of America and the Ripple on the XRP price? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)