Bank of America is reportedly conducting all of its internal transactions using XRP, according to David Stryzewski, CEO of Sound Planning Group. Stryzewski made this claim during a discussion on FOX Business, where he also mentioned that Bank of America has filed 83 patents related to Ripple’s blockchain technology. He expressed optimism about XRP’s future, stating that it will play a significant role in the finance industry. Stryzewski also highlighted Ripple’s progress in the payment market, including the recent launch of its stablecoin. However, it is important to note that Bank of America’s use of XRP for internal transactions has not been confirmed. Despite this, there is a history of association between Ripple and Bank of America, as the bank is part of Ripple’s global payments network and serves on its Governance Committee. In 2017, Bank of America also filed a patent for a settlement system that mentions a “ripple” distributed ledger. While the patent does not directly reference XRP, it aims to enable real-time settlements and interbank communication using decentralized ledger technology. The XRP community views Bank of America’s potential use of XRP as a further endorsement of its adoption by mainstream financial institutions.
