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- The Financial institution of America was on the RippleNet committee, mentioned lawyer Invoice Morgan.
- Customary Chartered was additionally part of the RippleNet committee.
- Financial institution of America launched a report in 2023 praising Ripple’s efforts within the APAC area.
Lawyer Invoice Morgan has noticed a possible connection between Ripple and Financial institution of America, sparking discussions in regards to the nature of their relationship.
Morgan shared screenshots on X (previously Twitter) of a picture on Ripple’s web site that options Financial institution of America. He famous the one hyperlink he might discover between the 2 was Financial institution of America’s presence on the RippleNet committee.
Morgan additionally speculated that each Financial institution of America and Customary Chartered, a number one monetary establishment, are linked to Ripple by this committee.
Nevertheless, Morgan mentioned that he wasn’t certain how “present” the data is, including that remembered coming throughout the identical information years in the past when the “RippleNet committee members allotted RippleNet addresses in line with the IPL.” He additionally famous a scarcity of transparency in regards to the precise nature of the connection between Financial institution of America and Ripple.
Platform X person “WrathofKahneman,” identified for following developments within the XRP ecosystem, added to the dialogue by stating that Financial institution of America is solely on the RippleNet committee. He famous that many of the names on the web site are additionally clients and that “to-date, nothing greater than the committee has been introduced.”
It’s value noting that in 2023, Financial institution of America revealed a report titled “Breaking New Floor: Harnessing Funds Innovation in APAC,” whereas acknowledging the position performed by Ripple within the growth of fee techniques within the Asia-Pacific area.
The report emphasised on the position performed by blockchain expertise in digitizing the fee business whereas acknowledging the position performed by Ripple in revolutionizing the sector as effectively.
Whereas a Ripple-Financial institution of America partnership could appear alluring, it’s value remembering that the monetary establishment, which manages $1.6 trillion in belongings below administration (AUM) was, within the earlier yr, slammed for closing the account of a buyer who used his cash to fund his Coinbase account.
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