Ripple confirmed that it has collaborated with Bank of America- one of the world’s largest banks.
Crypto-money followers have been suspicious of a collaboration between Ripple and the Bank of America for several months. A spokesperson for the Ripple confirmed these claims by saying,
“Bank of America has been part of the Ripple Global Payment Steering Group since 2016, and we did a trial with them.”
The details of the cooperation between Ripple and Bank of America are not yet known. However, Bank of America is thought to be using Ripple’s xCurrent technology.
It was already known that Bank of America advised Ripple on some financial issues and there is a connection between these two. However, it has been confirmed that Bank of America is testing Ripple’s technology with new announcements.