Wednesday, May 5, 2021

Regulatory Compliance Makes Ripple the Fintech of Our Choice –Bank of America (BoA)

Ripple, US-based blockchain firm has recently received an accolade from one of the largest banks in the world, Bank of America (BoA).

This was recently hinted by a supposed XRP enthusiast identified on Twitter as StuartXRP. He marked out the statement dispatched by BoA and captioned it in the tweet.

The statement contains a summary of the benefits the bank has leveraged since working with Ripple. The bank also stated that Ripple’s regulatory compliance makes the Fintech a partner of choice.

It stressed that it has tested Ripple through all of its rigor of legal and compliance processes, which strengthen the bond between the duos, adding that this has so far helped its banking platform to deliver as expected.

StuartXRP shared this, “…we built or partnerships that we have with the likes of Ripple or Swift. These are Fintechs that we’re partnering with. They’ve come through all of our rigor of legal and compliance and we’re able to leverage our banking as a platform to deliver that to you.”

This recent commendation indicates that Ripple is on track in its quest to deliver the best for its customers, and still be in the right state with the regulatory bodies.

In line with the above accolade, recall that the CEO of Ripple, Brad Garlinghouse, had constantly charged the regulators not to paint all cryptocurrencies with one broad brush.

This denotes that the blockchain tech and its digital token are ever ready to comply with necessary regulatory guidelines, which presently boosts its trustworthiness among its customers across the world.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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