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Home/News/Ripple XRP Builds Partnership With Bank of America
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RIPPLE XRP BUILDS PARTNERSHIP WITH BANK OF AMERICA

Jamie West Send an email October 17, 2020
0 1,229 2 minutes read
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United States – A presentation at Ripple’s Swell Conference has confirmed its
partnership with Bank of America. After years of being linked with the
organization, Ripple executives are now working together with the US’
second-largest bank.

Last February 2020, the news went viral after Ripple announced cross-border
payments between the US and Mexico using Bank of America. However, this
announcement was subsequently retracted, and executives asked to remove all the
relative tweets and posts about it. During the 2020 Swell Conference, Ripple
discussed their partnership with Bank of America and how they utilize the
network of banks and financial institutions.

According to Panos Mekras, the DigitalGen Financial Services CEO, Ripple’s
payment messaging’s product demo promotes using Bank of America. The bank’s head
of global banking digital strategy, Julie Harries, also shared last April 2020
that they want to work with Ripple XRP to enhance the client experience. In this
century, a combination of high tech and touch is an essential focus for Bank of
America. They want to get things done anytime and anywhere, especially because
everyone lives in an around-the-clock society.

Furthermore, Julie Harries also discussed that they built a partnership with
Ripple’s platform for better integration. It is not all about the platform but
about the public as clients and leveraging the banking capabilities to deliver a
better service.

Although the XRP community has different views about the partnership, many
critics find it essential for the United States. With Ripple and Bank of
America, more people can transfer payments and receive money directly without
needing a central intermediate, resulting in a more conveniently banking system,
especially in bridging two different currencies.

Ripple XRP has built an excellent reputation since it is faster, less costly,
and more scalable than other cryptocurrencies or digital assets. With its
partnership with Bank of America, more business people can rely on instant
settlements and lower exchange fees.

Over the years, Ripple has been promoting micropayments and other peer-to-peer
exchanges. The company has over two dozen customers, including the famous
platforms Azimo, MoneyGram, and SendFriend. The Ripple CEO revealed that the
list would continue to grow since they are trying to build a greater pulling
power in Asia and America. These regions are increasingly interested in
cryptocurrencies, especially Latin America and the Asia-Pacific region.

Ripple is very confident that the platform will continue to move forward in the
next years. With the company’s new streamline business units, XRP will continue
to b builders and not disruptors.

Jamie West


Tags
banking system cryptocurrency DigitalGen Financial Services CEO integration
Panos Mekras Ripple Ripple XRP SWELL conference
Jamie West Send an email October 17, 2020
0 1,229 2 minutes read
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JAMIE WEST

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all
things crypto.


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