Bank of America Officially Adopts XRP

Bank of America has made a major change after deciding to use XRP for “100% of internal transactions.”

Azcnews Bank Of America Officially Adopts Xrp

Bank of America is now using XRP for “100% of its internal transactions,” David Stryzewski, CEO of Sound Planning Group, told FOX Business.

Stryzewski said that Bank of America has filed 83 patents related to Ripple’s blockchain technology, integrating XRP into the bank’s daily operations. He also expressed optimism about XRP’s potential, asserting that it will become an important tool in the financial industry.

On FOX Business, he emphasized: “XRP will be the platform that everything will run on in the future.” Stryzewski also reinforced his positive assessment of XRP by pointing out that, despite regulatory hurdles, Ripple is still making steady progress in the payments sector.

He also mentioned Ripple’s recent stablecoin launch, seeing it as a move that will help strengthen the company’s position in the payments industry.

Bank Of America Use Xrp
Bank Of America Use Xrp

According to Ripple’s official website, Bank of America is a member of RippleNet – Ripple’s global payments network – and sits on the network’s Governance Committee. The committee is made up of leading financial institutions around the world, working together to develop and maintain standards for cross-border transactions.

Read more: After Gary Gensler, Rostin Behnam to Step Down as CFTC Chairman on Trump’s Inauguration Day

Other companies such as Standard Chartered, Santander, and Nium are also members of RippleNet. Notably, Bank of America filed a patent in 2017 for a payment system that uses the distributed ledger “Ripple.”

The system aims to make real-time payments and facilitate communication between banks, using distributed ledger technology (DLT), which allows banks to verify transactions synchronously.

(7 votes)

2.9/5

(7 votes)

Latest

Xrp Lawyer Refutes The Biggest Lie In The Crypto Industry

News | Editor Choice | Policy & Regulations

XRP Lawyer Refutes the Biggest Lie in the Crypto Industry

Ripple lawyer Bill Morgan firmly refutes accusations that XRP lacks legal clarity, calling it “the biggest lie” in the crypto industry today.

How To Participate In Wump Airdrop

Airdrops | Editor Choice

How to Participate in Wump Airdrop

Join the airdrop hunt for the Wump project, inspired by Telegram projects but developed on the Discord platform.

Meta Drops Bitcoin Purchase Proposal, Zuckerberg May Be The Opponent

News | Bitcoin | Editor Choice

Meta Drops Bitcoin Purchase Proposal, Zuckerberg May Be the Opponent

Meta has rejected a proposal to include Bitcoin in its asset class, showing that the tech giant remains cautious about the cryptocurrency investment trend even as many large businesses are gradually joining the game.

Elon Musk Launches Xchat Inspired By Bitcoin

News | Bitcoin | Editor Choice

Elon Musk Launches XChat Inspired by Bitcoin

Elon Musk has just unveiled XChat — a new messaging feature on the X platform that integrates Bitcoin-level encryption and is developed using the Rust programming language, promising to set a new benchmark for security and privacy in digital messaging.

Price Prediction For Pi By The End Of 2025

Pi Network | Editor Choice

Price Prediction for PI by the End of 2025

According to CoinDCX, the price of PI Coin may see an uptrend by the end of this year and could recover to the range of $2 to $2.8.