David Stryzewski, CEO of Sound Planning Group, made bold claims about Bank of America’s integration of Ripple into its internal operations when recently speaking with FOX Business on January 7.
According to Stryzewski, the banking powerhouse had been using XRP for 100% of its internal transactions and had filed 83 patents tied to blockchain technology.
The CEO highlighted the transformative potential of Ripple’s infrastructure, calling it the “track that everything’s going to be running on in the future” and emphasizing its resilience despite ongoing regulatory scrutiny, including its highly publicized legal battle with the SEC.
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“Ripple was the second-largest coin [token] before the SEC’s investigation,” Stryzewski stated. “They filed this really weird lawsuit against them, and basically, Ripple is going to be the track that everything’s going to be running on in the future.”
He added:
“They created their own stablecoin right now, and Bank of America—like I said—was doing 100% of their internal transactions. They’ve got 83 different patents on it, and there’s some incredible stuff that’s going to be coming out.”
Unconfirmed reports on Ripple
Despite Stryzewski’s claims, no official confirmation has emerged to verify that Bank of America had conducted all internal transactions using XRP. However, the bank’s ties to Ripple are well-documented.
Bank of America is listed on Ripple’s official website as a participant in RippleNet and a member of its Governance Committee, which comprises leading global financial institutions working to standardize cross-border payments. Other notable committee members include Nium, Santander, and Standard Chartered.
In 2017, Bank of America also filed a patent for a settlement system leveraging distributed ledger technology (DLT). The patent described a system using “prefunded ripple settlements” for real-time interbank transactions but did not directly reference XRP as the token in use.
Featured image via Shutterstock
Watch the full interview below:
