Ripple’s work with leading banks worldwide continues to reveal the scope of its ambitions. In a recently resurfaced video, Marcus Treacher, a former senior executive at Ripple, described how the company collaborated with major financial institutions to build its governance framework.
Treacher stated that Ripple was “working very closely with Bank of America” and explained that this institution, along with Merrill Lynch, forms part of a select group of banks involved in shaping Ripple’s structure.
He identified seven major banks, including Bank of America, Merrill Lynch, CIBC Canada, Royal Bank of Canada, Bank of Tokyo-Mitsubishi, Santander Group, Standard Chartered, and Westpac Australia. According to Treacher, these banks were chosen to provide a “good global spread” of markets and perspectives.
Former Ripple Employee Marcus Treacher: “We are working VERY CLOSELY with Bank of America.”✅
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Bank Partnerships and Ripple’s Strategy
Ripple’s focus on forging relationships with large financial players reflects a deliberate strategy to enhance XRP’s adoption. Reports from January revealed that Bank of America is ready for crypto payments, and a partnership with Ripple could place XRP at the heart of the Bank’s crypto-based systems.
By bringing together banks from North America, Europe, Asia, and Australia, Ripple has also sought input on operational needs across diverse regulatory and commercial environments. This multi-regional approach positions Ripple to offer technology that can be applied consistently and at scale, which is essential for cross-border payment solutions.
The emphasis on collaboration also speaks volumes about Ripple’s long-standing effort to create not just software but an infrastructure layer for global payments. This dynamic is especially relevant as Ripple continues to promote the use of XRP. Involving prominent institutions at an early stage can increase confidence in the digital asset’s use as a bridge currency and cross-border settlement asset.
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Global Spread Signals Long-Term Vision
Treacher’s comments reveal how Ripple viewed its network during a formative stage of its development. Involving banks such as Bank of America, Santander, and Standard Chartered has positioned Ripple itself as a technology partner capable of addressing the complexities of cross-border payments at a global scale.
This level of institutional engagement reflects a long-term vision to integrate blockchain-based solutions into mainstream finance, paving the way for broader adoption of both Ripple’s technology and XRP.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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