In July 2019 BofA filed a patent application for a real-time international payment system that would be based on Ripple’s distributed ledger technology (DLT). Reports have surfaced that the multinational investment bank may have joined RippleNet, aiming to power instant global payments using blockchain technology.
The document cited by Zy Crypto says that this new collaboration will enable BofA to facilitate payments via RippleNet between the US and Mexico in the beginning, and later expanding to Europe, Latin America, the Middle East, and Asia.
It’s worth noting that neither Ripple nor BofA has officially confirmed the news at this point.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.