In a significant development for the blockchain and financial technology sectors, Ripple has officially confirmed that Bank of America (BoA) has been a customer since 2016 and is now actively testing a product built on the XRP Ledger (XRPL). While details remain limited, this revelation marks a pivotal moment in the convergence of traditional banking and decentralized finance infrastructure.
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Longstanding Partnership Revealed
Ripple’s spokesperson recently confirmed to CoinDesk that Bank of America has been involved with the company for several years, participating in its Global Payment Steering Group since 2016. This group advises on standards and strategic direction for RippleNet, the firm’s enterprise blockchain solution designed to streamline cross-border payments.
Although BoA's involvement was previously known only in advisory capacities, new information reveals that the bank has moved beyond consultation into active piloting. According to Ripple, “Bank of America has been part of Ripple’s Global Payment Steering Group since 2016 and we did a pilot with them.”
This pilot focuses on an XRPL-based technology, signaling a deeper technical integration than previously assumed. Despite the significance of this collaboration, neither Ripple nor Bank of America has disclosed specific use cases, timelines, or deployment plans.
From Patent Filings to Real-World Testing
Back in summer 2019, Bank of America filed a patent for a blockchain-based product named “Ripple,” sparking speculation across crypto communities. At the time, many wondered whether the bank was developing its own version of Ripple’s technology—or potentially laying the groundwork for integration.
Now, with confirmation of an ongoing pilot, it appears the latter may be true. The timing aligns with earlier job postings from BoA seeking a Treasury Product Manager to lead a “Ripple project.” This role suggested internal development efforts tied directly to Ripple’s ecosystem—now substantiated by the official confirmation.
While the bank remains silent on public commentary, industry analysts interpret these moves as signs of growing institutional interest in blockchain-powered payment solutions, particularly those offering speed, transparency, and cost efficiency.
Understanding the Technology: xCurrent vs. On-Demand Liquidity
It’s important to distinguish which Ripple technologies Bank of America is engaging with. According to available data, BoA has tested xCurrent, Ripple’s solution for real-time messaging, clearing, and settlement between financial institutions. Notably, xCurrent does not utilize XRP, the native cryptocurrency of the XRP Ledger.
Instead, XRP plays a central role in On-Demand Liquidity (ODL)—formerly known as xRapid—a system designed to eliminate pre-funded nostro accounts by using XRP as a bridge currency during cross-border transactions. ODL enables faster settlement and reduced capital requirements, making it especially attractive for remittance providers and global payment networks.
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While Bank of America is not currently using XRP or ODL, its exploration of xCurrent lays foundational infrastructure that could support future adoption of more advanced solutions like ODL.
Major Financial Institutions Using Ripple Solutions
- PNC Bank: Uses xCurrent for cross-border payments
- American Express: Piloted RippleNet for B2B payments
- Santander: Leverages Ripple for international transfers via One Pay FX
- MoneyGram: Integrated ODL and actively uses XRP for settlements
The inclusion of Bank of America among these names—even at the pilot stage—underscores Ripple’s expanding footprint in mainstream finance.
Core Keywords and Industry Impact
Key terms shaping this narrative include:
- Ripple
- Bank of America
- XRP Ledger (XRPL)
- On-Demand Liquidity
- xCurrent
- blockchain payments
- cross-border transactions
- financial innovation
These keywords reflect both technological advancement and shifting sentiment within traditional finance toward blockchain adoption. As banks seek faster, more efficient alternatives to SWIFT and legacy systems, solutions like RippleNet offer compelling value propositions.
Moreover, the fact that one of the largest U.S. banks is quietly testing XRPL-based tools suggests a broader trend: institutional validation of decentralized ledger technology, even if full-scale deployment remains cautious.
Frequently Asked Questions
Q: Is Bank of America using XRP?
A: No, not at this time. The bank is testing Ripple’s xCurrent system, which operates without XRP. There is no public indication that BoA plans to adopt On-Demand Liquidity or use XRP in live operations yet.
Q: How long has Bank of America worked with Ripple?
A: Since 2016, when it joined Ripple’s Global Payment Steering Group. The relationship has evolved from advisory participation to piloting blockchain-based solutions in 2025.
Q: What is the difference between xCurrent and On-Demand Liquidity?
A: xCurrent enables real-time messaging and settlement between banks without using XRP. On-Demand Liquidity (formerly xRapid) uses XRP as a bridge asset to reduce liquidity costs in cross-border payments.
Q: Could Bank of America start using XRP in the future?
A: While nothing has been confirmed, testing xCurrent may serve as a stepping stone toward adopting ODL. Many institutions begin with non-XRP solutions before progressing to tokenized liquidity models.
Q: Why is this partnership significant?
A: Bank of America’s involvement signals growing acceptance of blockchain in traditional finance. Even exploratory pilots from major banks lend credibility to distributed ledger technologies and their potential to modernize global payments.
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The Road Ahead
As financial institutions increasingly explore decentralized infrastructure, partnerships like that between Ripple and Bank of America could become blueprints for wider adoption. Though still in early stages, the pilot represents a tangible step toward modernizing outdated payment rails.
With regulatory clarity improving and technological maturity increasing, 2025 may mark the beginning of broader integration between legacy banks and blockchain networks. For investors, developers, and financial professionals alike, watching how BoA’s trial progresses will offer valuable insights into the future of digital finance.
While many questions remain unanswered, one thing is clear: the bridge between traditional banking and blockchain technology is being built—and major players are stepping across.