On January 17, CryptoZink published an article titled “Why Big Banks Like Bank of America & Wells Fargo Need Ripple or Will Die a Thousand Deaths.”
Well, it seems like executives from both Bank of America and Ripple have either read the article or were already working to team up before the publication.
BofA, America’s second biggest bank, by assets holding officially announced a partnership between the two firms. During a podcast, three executives from BofA and a Ripple representative analyzed digital payments’ future.
Bank of America & Ripple in bed together
In 2016, Ripple formed the RippleNet Committee and BofA was one of the firm major banks to join the exclusive club.
In a report published by XRPArcade, BofA executives officially confirmed the partnership. Rumors have been circulating for years about BofA and Ripple teaming up.
The blockchain-based payments processor will allow one of the world’s largest banks to process cross-border transactions using its platforms.
Santander, a Boston-based bank, formerly known as Sovereign Bank is another Ripple client. A subsidiary of Spanish Santander Group, it used RippleNet to process payments between the United States in Mexico in February.
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.