For the banking giant Bank of America (BoA), Ripple is an example of innovation and highlights it in a report shared by BankXRP on Twitter.
One of the largest and most influential banks in the world, Bank of America (BoA), has said that Ripple is an example of innovation and mentions it in a report shared by a leading member of the XRP community on Twitter. Among the tweets, the Financial Institution expressed:
“Bank of America cites Ripple’s cross-border solution as an example of innovation.”
“Bank of America: Ripple’s cross-border solution addresses the challenges of legacy correspondent infrastructure and provides bidirectional messages to improve payment tracking, data transmission and allows greater certainty in settlement.”
The news spread by the prominent member of the Ripple community on Twitter seems to be good. However, despite this, it remains questionable whether it will have a positive impact on the price of XRP in the short term.
The document, as of September this year, had not been widely disseminated in the crypto community.
Ripple supports yesterday’s system
Unlike other cryptocurrencies, Ripple does not try to oppose the current financial system. Instead, he does his best to integrate himself. This year, more than 300 banks and payment platforms have started testing Ripple’s xCurrent and On-Demand Liquidity (ODL).
However, the media adds, the main rivals, such as the Swift system (which many in the crypto community believe will be replaced by Ripple someday) still reject any kind of collaboration. Swift has approved the low cost and high speed of Ripple ODL, but still stated that this technology is too young (imperfect reading) to be used on a global scale.