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.
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