The second largest US bank, Bank of America, has secretly tested Ripple's Distributed Ledger Technology (DLT) technology and is likely to have further plans in this direction.
Bank and Ripple Collaboration
At the end of last year, at a seminar held by the International Monetary Fund, Ripple called Bank of America “client” in his presentation. However, a Ripple spokeswoman declined to comment on the status of the relationship between the two companies.
“Bank of America has been part of the Ripple Global Payment Steering Group since 2016, and we launched the project with it,” said a Ripple spokesman.
Previously, such a project was not reported. Bank of America declined to comment on this information.
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- It was previously known that Bank of America is a member of a coordination group that develops recommendations for the RippleNet payment network, however, the presence of a joint project may indicate that cooperation between the two companies is beyond consulting.