The Bank of America is reportedly looking to form a partnership with Ripple Labs for on-demand liquidity services once Ripple settles its suit with the US Securities and Exchange Commission.
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Bank of America to Partner With Ripple Labs After Ripple SEC suit
The potential partnership was announced at the Ripple Swell 2022 in London where Brad Garlinghouse, the CEO of Ripple Labs hinted Linqto Director of Member Sales Nick Burrafato that the Bank of America will soon commence using Ripple’s on-demand liquidity products the moment Ripple settles its case with SEC.
According to Burrafato;
“[Brad Garlinghouse] made it clear that they’re ready to settle with the SEC as long as they can get clarity on XRP. I asked him if American companies were waiting on the sidelines to jump in the game once clarity happens – he said ‘Absolutely.’ He specifically said Bank of America. Bank of America is a huge partner of Ripple. And he said Bank of America stands to gain really big when the settlement happens because [Bank of America is] going to have a huge competitive advantage over their competitors by using ODL on the marketplace. So Brad is very, very bullish.”
In early November, Ripple Labs disclosed remarkable growth of its ODL products amid the Ripple case with SEC.
Ripple Labs had at a time named the Bank of America as an important member of its global payments network.
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