We already know that Bank of America has been unoficially trialling and working with RippleNet for a long time, as have Santander who were one of the first VC investors in Ripple. There have also been Bank of America employees listing Ripple related job profiles on their Linkedin. Now this week a Ripple press release went viral claiming to be an official Ripple press release announcing BOA joining RippleNet.
Apparently Ripple had asked a website and an advertisitng agency to pull the leaked press release. One XRP Community YouTuber DigitalNomadInvestor decided to contact the advertising agency to verify things. Having asked why they had to pull the press release ie. if the press release was untrue, the response the Ad Agency claimed was given from Ripple was not that it was untrue, just that it was “too soon”.
Do not take this as the gospel truth however. This could still all be fake news, forgeries, clever Bitcoin Maxi manipulation, etc.
So for the record, officially despite all rumours and all other evidence there is out there… Bank of America are NOT announced as an official RippleNet partner or customer. And since all these rumours broke, the whole cryptocurrency market has faced a severe sell off. So tread very carefully in this crazy manipulated market. Things could easily get a lot worse from here on in.
Interestingly according to another source which XRP Twin has just quoted on Twitter….
The Patent that @BankofAmerica filed 2 years ago for DLT expires today …. Timing ….. ?!?
— ⚡️XRPTwin 🦔 (@xrptwin) February 20, 2020
Bank of America Joins RippleNet
Partners with Santander to Power Instant Global Payments
February 18, 2020 – Singapore – The Bank of America announced it has has joined the Ripple’s global blockchain payments network RippleNet to power instant global payments using blockchain technology to make cross-border payments instant, cheap and reliable.With this partnership, Bank of America will become one of the few global banks to adopt and leverage blockchain technology to enable interbank messaging and settlement for cross-border payments.
Here is a screenshot of part of the press release:
“Bank of America brings new technology Always to bring to improve the user experience These technologies have changed the user experience, whether it is speed or reliability. Using RippleNet it meets the needs of our customers, ”said the bank.
Bank of America began using RippleNet to increase payment efficiency between the United States and Mexico, and in the future plans to expand to Europe, Latin America, the Middle East and Asia. Which the bank has also collaborated with Santander Bank
Ripple CEO Brad Garlinghouse also said that it has not been a financial innovation that has been going on for over 50 years and this partnership is an important step.
“The financial industry has not been innovative for over 50 years, and this partnership is an important time to become a financial leader. Both Bank of America and Santander have adopted blockchain technology to enable payments in the United States. Is fast Convenient and at a lower cost than before. Bank of America is one of the leading leaders in the banking technology, and will play an important role in our network and the future of payment in the world. “
Bank of America is a member of the RippleNet Committee and the world ‘s foremost financial institution providing services to customers, including companies and businesses soon. The company has more than 66 million service customers and more than 4,300 financial institutions, with over 28 million mobile users. The RippleNet board is responsible for establishing the regulatory and legal framework for RippleNet transactions.
There are more than 300 banks, payment service providers and financial institutions participating in the RippleNet network. Ripple has over 6 countries in more than 45 countries.