Headlines about a partnership between Bank of America and Ripple have been circulating many times, but most of the time it was just speculation. Much information was not made public.
But if you believe the words of the Head of Global Banking at BofA , Julie Harris, Ripple and BofA are already in an ongoing partnership. The executive confirmed this in the latest episode of the “Treasury Insights” podcast from Bank of America.
When it comes to what's going to change in the banking sector over the next 10 years, Harris says that Bank of America's first goal is that customers can do anything anytime, anywhere.
In addition, new solutions are to be integrated to keep up with the rapid changes in the fintech world. One partner who helps BofA to achieve these goals is Ripple:
It's about you as a customer and about the infrastructure you have and the ability for us to integrate, be it with platforms and skills that we have built, or with partnerships that we have with companies like Ripple or Swift , These are fintechs with whom we work. You have met all of our strict legal and compliance requirements and we are able to use our banking as a platform to offer you this.
Collaboration suspected for a long time
For some, this statement by Julie Harris doesn't seem to be new. An ongoing partnership has been suspected for a long time and the two companies worked together on a pilot project in 2016.
However, no details were published and it was not revealed whether the companies used the cryptocurrency XRP .
However, with the Bank of America executive formulation above, it appears to be official.
Ripple and BofA work together continuously.
Assuming that this was not really confirmed publicly before, this is great news for all Ripple and XRP fans and will have a positive long-term effect.
Because Bank of America is one of the largest banks in the USA and can be an important springboard to other big players.