One often heard comment is how no banks will ever use Ripple or XRP. The recent 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 Sees Merit in RippleNet
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.
The latest member to join the ranks is none other than Bank of America.
Given this company’s position in the US financial industry, it is a pretty big addition for Ripple.
To date, the company primarily noted big successes in Asia.
Expansion in the Western world has been relatively slow going, for some reason.
It is not the first time that Bank of America and Ripple join forces.
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.
It appears that BoA sees merit in RippleNet for its US-Mexico payment corridor.
If successful, an expansion to European markets is not out of the question.
All of these developments paint a very interesting picture for the future of Ripple.
The post RippleNet Welcomes Bank of America as its Newest Member appeared first on NullTX.
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