Chief Planning Officer at FOX Business

A recent post from FOX Business News highlights a statement that Bank of America conducts “100% of its internal transactions” using XRP.

Specifically, the suggestion came from David Stryzewski, CEO of Sound Planning Group, during a discussion on FOX Business on Monday, January 6. Stryzewski claimed that Bank of America has not only integrated XRP into its daily operations, but has also filed 83 patents related to the blockchain technology behind Ripple.

Accordingly, he expressed optimistic sentiments about XRP, stressing that it will serve as a key tool in the future of finance.

“XRP will be the path on which everything goes in the future.” Stryzewski said during the segment on FOX Business.

Furthermore, he reinforced his bullish view on XRP by noting that Ripple is progressing in the payment market despite regulatory challenges. He pointed to Ripple’s recent launch of its stablecoin as a step that strengthens its position in the payment market.

Given these efforts, Stryzewski mentioned in the interview XRP is what crypto asset market participants should keep an eye on.

Meanwhile, Stryzewski’s claim that Bank of America uses XRP for internal transactions has been substantiated antiquities Passionate conversations in the XRP community. They view the claim as further confirmation of the adoption of XRP in the mainstream banking sector by leading financial institutions.

However, Stryzewski’s assertion that Bank of America conducts 100% of its internal transactions using XRP remains unconfirmed.

Ripple and Bank of America connections

However, Ripple and Bank of America have a history of association. according to Ripple’s official website, Bank of America, is part of Ripple’s global payments network, RippleNet, and serves on its governance committee.

This committee consists of leading global financial institutions working together to develop and maintain standardization in… Global cross-border transactions. Other members include companies such as Nium, Santander and Standard Chartered.

Also, in 2017, Bank of America foot Patent for a settlement system that refers to a “corrugated” distributed ledger. The system sought to enable real-time settlements and facilitate communication between banks using decentralized ledger technology (DLT), where both banks could verify transactions.

Although the patent refers to “pre-funded Ripple settlement,” it does not directly reference Ripple’s payment token, XRP.