Blockchain-Shy Bank of America Quietly Pilots Ripple Technology

As reported at CoinDesk, “Bank of America, the second-largest bank in the U.S., has quietly tested out Ripple’s distributed ledger technology – and may be planning to do more with it.

“Ripple went so far as to identify B of A as a ‘customer’ in a presentation given at a seminar held by the International Monetary Fund (IMF) late last year.

“When asked about this, a Ripple spokesperson would neither confirm nor deny whether B of A was a customer – but said the companies had conducted a pilot together.

“’Bank of America has been part of Ripple’s Global Payment Steering Group since 2016 and we did a pilot with them,’ she told CoinDesk.

“The spokesperson would not provide any further details about the pilot, which was not previously reported. Bank of America declined to comment.

“It was previously known that B of A is a member of the steering group that advises on rules and standards for Ripplenet, the network of financial institutions using Ripple products. But the news of the pilot is the strongest indication yet that the bank’s relationship with the startup goes beyond friendly advice…”

Continue to read the full article at CoinDesk.

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