A publicly shown patent detailing the use of Ripple ledger by the Bank of America excites XRP fans. Is there a new agreement in the making between Ripple and Bank of America?
Ripple usage details in Bank of America’s patent
The Bank of America, one of the largest banks in the United States and in the world, applied for a patent for a technology developed for money transfers.
This patent draws attention to an important detail.
Twitter user @Dillon shared this detail with his followers on 20 July via Twitter.
— Dillon (@Dillon) July 20, 2019
The patent shows that the Bank of America (BofA) wants to introduce a system of real-time settlement that utilizes the Ripple ledger for inter currency transactions.
This tweet became viral soon. Below we see the section shared by @Dillon regarding the patent application of Bank of America.
Naturally, Ripple fans were excited about this tweet. Is there an agreement coming up between Bank of America and Ripple and will it influence the Ripple course?
Ripple recently signed an agreement with SBI Holding Japan and Santander for international money transfers. In addition to these agreements, the agreement with MoneyGram was perceived as a significant success in the crypto money markets.
If Bank of America is included in this list, this will be the crowning of Ripple’s success. Banking and finance technology are going to be transformed with Ripple’s xRapid, xCurrent and xVia products. With these products, Ripple realizes secure and low-cost money transfers over the blockchain network using XRP crypto money.