Bank of America to collaborate with Ripple on ODL services after end of XRP trial

Bank of America is reportedly waiting for the US Securities and Exchange Commission (SEC) lawsuit against Ripple to conclude joining forces with the San Francisco-based payments company. 
  Ripple Labs CEO Brad Garlinghouse  told Linqto member sales director Nick Burrafato at Ripple Swell 2022 in London that Bank of America is waiting for a lawsuit to be resolved before using Ripple's on-demand liquidity (ODL) products. 
 says Burrafato, 
 "[Brad Garlinghouse] explained that they are willing to agree with the SEC as long as they  get clarity on XRP. I asked him if American companies are waiting on the sidelines to get into the game when clarity comes. - he said: " Absolutely.” He said  specifically about Bank of America Bank of America is an important partner of Ripple. And he said that Bank of America  really won if the settlement goes through because [Bank of America] gets a huge competitive advantage over its competitors by using ODL in the marketplace. So Brad is very, very bullish." 
  Ripple Labs also named Bank of America as a key member of its global payments network in 2020. 
  Julie Harris, then head of global banking at Bank of America, said 
 "It's about you as a customer and your existing infrastructure  and our ability  to integrate, whether it's the platforms and features we create or the partnerships  we create. With the likes of Ripple or Swift. 
 These are the fintech companies we work with. They have met all the legal and regulatory requirements and we can use our banking business as a platform to bring it to you." 
 Earlier this month, Ripple Labs announced record growth in its ODL products despite an SEC lawsuit claiming XRP is a security. .

🌐  source

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