The crypto market is abuzz with a new statement from the CEO of Sound Planning Group, David Stryzewski, revealing the complete use of XRP by Bank of America for internal transactions.
Statement from CEO of Sound Planning Group
David Stryzewski, speaking on FOX Business, claimed that Bank of America uses XRP for 100% of its internal transactions. This news has sparked interest within the XRP community and beyond, potentially opening a new dimension in the global banking system.
History of BoA and Ripple Partnership
Bank of America has long been associated with RippleNet, the global payments network based on blockchain technology. Since 2017, the bank has been actively exploring ways to incorporate Ripple's technology, as evidenced by 83 patents related to this technology.
Potential Implications for the Banking System
If Stryzewski's claim is confirmed, it would be a significant step in the adoption of cryptocurrencies by traditional banking systems and could prompt other financial institutions to follow Bank of America's lead.
While the claim remains unofficial, the widespread use of XRP in a major bank like Bank of America could significantly accelerate the integration of cryptocurrencies into traditional financial systems.
