One of the significant banks in America, the Bank of America, could potentially be practicing one of the Ripple’s flagship products. The bank has supposedly adopted the blockchain technology followed by the trial of Ripple’s Distributed Ledger Technology (DLT) in its system.
According to Coinspeaker, Bank of America will likely use the xCurrent. However, the product lacks the cryptocurrency XRP. It is used in another Ripple product – xRapid, which was developed to lower liquidity and render easier cross border payments. BOA currently opts to remain silent on the speculations owing to its previous hard stance on blockchain services. Also, a spokesperson from Ripple did not provide any information concerning the partnership.
At present, more than 200 financial institutions, including the TAS group, Euro Exim Bank, and more, are signed in as Ripple’s customers. The Bank of America will further be the next big institution to use and stand with the blockchain network. Recently, the job posting listed by BOA for a “Ripple project product manager” was also closed for applications, hinting at some recruitment.
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Article’s information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.