In recent weeks, speculation has reignited around a potential connection between Ripple, the blockchain payments company, and Bank of America, one of the largest financial institutions in the world. The conversation was sparked by attorney and crypto observer Bill Morgan, who shared findings suggesting that Bank of America may have once been part of Ripple’s elite RippleNet committee—a group reportedly involved in shaping the future of cross-border payments using blockchain technology.
While no formal partnership has been publicly confirmed, the subtle digital footprint of this relationship raises intriguing questions about institutional interest in decentralized finance and real-time settlement solutions.
RippleNet Committee: A Strategic Alliance?
According to Bill Morgan, the only verifiable link between Ripple and Bank of America lies in archived references to the latter’s involvement with the RippleNet committee—a now less-visible initiative within Ripple’s broader ecosystem. Morgan posted screenshots on X (formerly Twitter) showing Bank of America listed among other major financial players like Standard Chartered, all allegedly tied to this strategic advisory group.
“I’ve taken a screenshot of the only place I could find the reference to Bank of America, and it seems to be in connection to the RippleNet committee,” Morgan wrote. “I assume that Bank of America and… [are involved], but I’m not sure how current this information is.”
The RippleNet committee was reportedly formed to help align global financial institutions around standardized protocols for blockchain-based payments, particularly using Interledger Protocol (ILP)—a technology developed by Ripple to enable interoperability between different ledgers and payment networks.
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Although Ripple has not updated public details about the committee in recent years, its past inclusion of top-tier banks suggests early institutional validation of blockchain-driven payment innovation.
Standard Chartered and Other Financial Giants on Board
Morgan noted that Standard Chartered also appeared on the same committee, reinforcing the idea that major global banks were exploring Ripple’s technology during a critical phase of fintech evolution. Unlike some peers, Standard Chartered has maintained a relatively open stance toward blockchain adoption, piloting various digital asset initiatives across Asia and Africa.
This context adds credibility to the possibility that even traditionally conservative institutions like Bank of America were at least evaluating Ripple’s infrastructure for potential integration—especially given the growing demand for faster, cheaper international transfers.
However, as platform X user WrathofKahneman, a known XRP ecosystem analyst, pointed out:
“That's correct, just the Committee. Notable that the majority of the names there are also customers, but to date nothing more than the committee has been announced.”
He referenced a past comment from Ripple CEO Brad Garlinghouse at Swell 2020, where he hinted that several large banks were waiting for regulatory clarity—particularly from the U.S. Securities and Exchange Commission (SEC)—before moving forward with public collaborations.
Bank of America’s 2023 Report Acknowledges Ripple’s APAC Impact
Despite the silence on direct partnerships, Bank of America demonstrated awareness of Ripple’s growing influence in a significant 2023 publication titled “Breaking New Ground: Harnessing Payments Innovation in APAC.” In this report, the bank examined emerging trends in digital payments across Asia-Pacific markets and acknowledged Ripple’s role in advancing blockchain-based remittance systems.
The document highlighted how blockchain technology is accelerating the digitization of cross-border payments, reducing settlement times from days to seconds. It specifically recognized Ripple’s work with financial institutions in Japan, South Korea, and Southeast Asia through its On-Demand Liquidity (ODL) service, which uses XRP as a bridge currency.
This level of recognition from a Wall Street powerhouse indicates that internal research teams at Bank of America are actively monitoring Ripple’s technological advancements—even if public collaboration remains on hold.
Regulatory Hurdles and Institutional Caution
One major barrier to deeper engagement between traditional banks and crypto firms remains regulatory uncertainty. The ongoing legal battle between Ripple and the SEC over whether XRP is a security has created hesitation among major financial institutions.
Bank of America itself has shown mixed signals regarding digital assets. While it monitors blockchain innovation closely, it has also taken strict actions against individual customers using crypto services. For instance, in 2023, it made headlines for closing an account allegedly due to the owner funding their Coinbase account—a move criticized by parts of the crypto community as contradictory to progress.
Such actions reflect a broader tension within legacy banking: while institutions explore blockchain efficiencies behind closed doors, they remain cautious about public association with cryptocurrency platforms.
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Core Keywords Driving Visibility
To ensure this analysis aligns with search intent and SEO best practices, key terms naturally integrated throughout include:
- Ripple
- Bank of America
- RippleNet committee
- blockchain payments
- cross-border payments
- XRP
- Standard Chartered
- On-Demand Liquidity (ODL)
These keywords reflect high-interest topics among investors, fintech professionals, and crypto enthusiasts searching for insights into institutional adoption trends.
Frequently Asked Questions (FAQ)
Q: Is Bank of America officially partnered with Ripple?
A: As of now, there is no official public partnership between Bank of America and Ripple. The only known connection is through historical mentions of Bank of America’s involvement with the RippleNet committee.
Q: What is the RippleNet committee?
A: The RippleNet committee was a strategic group composed of financial institutions working with Ripple to develop standards for blockchain-based payments using technologies like the Interledger Protocol (ILP).
Q: Did Bank of America invest in XRP?
A: There is no evidence that Bank of America holds or has invested in XRP. Its engagement appears limited to research and evaluation of Ripple’s technology.
Q: Why hasn’t Bank of America adopted Ripple’s solutions widely?
A: Regulatory uncertainty, particularly surrounding the SEC’s stance on cryptocurrencies like XRP, likely plays a major role in delaying broader adoption by large U.S. banks.
Q: Does Standard Chartered use Ripple’s technology today?
A: Standard Chartered has participated in pilot programs involving RippleNet and ODL but has not announced full-scale implementation across its global operations.
Q: Can blockchain really transform cross-border payments?
A: Yes. Blockchain enables near-instant settlement, reduces intermediary costs, and increases transparency—making it a strong candidate to replace outdated systems like SWIFT.
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Final Thoughts
While no formal alliance exists today between Ripple and Bank of America, the breadcrumbs point to serious behind-the-scenes interest. From committee participation to research reports acknowledging Ripple’s impact in APAC markets, it's clear that even cautious financial giants are tracking blockchain’s disruptive potential.
As regulatory clarity improves and pressure mounts for faster global payments, institutions like Bank of America may eventually step beyond observation into active collaboration. Until then, every mention—no matter how small—keeps the door open for a future where traditional finance and decentralized innovation converge.