American multinational investment bank and financial services company the Bank of America (BoA) is reportedly testing out Ripple's technology, CoinDesk reports citing a Ripple spokesperson.
However, the Ripple spokesperson declined to comment on a possible partnership between Ripple and BoA.
"Bank of America has been part of Ripple’s Global Payment Steering Group since 2016 and we did a pilot with them," the spokesperson said.
Previously iHodl reported that Ripple teamed up with the most prominent software developer for financial services Finastra to speed up the adoption of blockchain all over the world.
As part of the partnership, Finastra’s customers will reportedly be able to connect with RippleNet partners – more than 200 financial institutions worldwide.
Moreover, earlier Bank of America created a payment system based on Ripple's distributed ledger technology, according to the bank's patent application.
Recently, Ripple invested in Bitso, the largest cryptocurrency exchange in Latin America with a user base of 750,000 and counting.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.