- BOA stated the benefits of the solution, including transparency in payments and simplified correspondent banking model.
- According to the bank, Ripple's global payments solution works very well as a cross-border treasury payment solution.
In a recent report, the Bank of America (BOA) stated that Ripple's cross-border solution is innovative and praised it. According to an XRP Twitter fan by the online alias BankXRP, the BOA commended Ripple's technology for transitional payments.
According to the bank, Ripple's global payments solution works very well as a cross-border treasury payments solution, cross-border treasury receipt solution and a foreign exchange market maker. The bank also stated four potential benefits of Ripple's cross-border payment solution. These include transparency in payments, simplified correspondent banking mode, potentially reducing investigation and repairs and a possible way to provide liquidity in the US.
The report stated:
Innovation example: Ripple cross‐border solution. Ripple’s distributed ledger solution remedies legacy correspondent banking infrastructure challenges and provides bi‐directional messaging to enhance payment tracking, data transmission, and enables enhanced certainty in settlement.
Ripple's strategy for increasing adoption has always included selling its DLT and XRP-centric solutions to global institutions like payment providers and banks.
Follow us on Telegram
Stay updated of all the news
Binance CEO calls CFTC suit “disappointing” as district court halts Voyager $1 billion sale to Binance.US
Voyager’s deal with Binance’s United States entity, Binance.US, faced another hurdle on March 27, the same day that the Commodity Futures Trading Commission (CFTC) went after the crypto exchange. This is the second time in the span of a month that Voyager’s deal has been objected against by the government.
90% of Ethereum supply leaves exchanges as regulators struggle to classify ETH as Security or Commodity
Ethereum is known not only as the second-biggest cryptocurrency but also as the second-generation cryptocurrency. The blockchain not only brought Decentralized Finance (DeFi) to the crypto space but also framed a target on its back following its Proof of Stake transition plan.
This is how EOS holders responded to the network's EVM testnet launch, what to expect this week
The first milestone on the EOS Network Foundation’s roadmap, the completion of the EOS EVM (Ethereum Virtual Machine) code, was achieved on March 22, starting the countdown to the launch of the EOS testnet. Well, it is finally here and the community is elated as it brings them closer to the mainnet release on April 14.
XRP price recovers above $0.44 as court ruling approaches, will Ripple win against the SEC?
XRP price has kept its momentum, flashing green on the one-day timeframe as the countdown to the Ripple vs SEC lawsuit continues. The remittance token is moving in tandem with our prediction last week, soaring by a significant margin to secure a place among the best-performing cryptocurrencies on a one-week timeframe.
Bitcoin: Should you trust this BTC sell signal or wait for $34,000?
Bitcoin price shows a clear picture of its rally after it breached a long-term bullish pattern in mid-January. As the rally takes a breather, sell signs have started to emerge, which is putting investors in a confused state.