A presentation at Ripple’s Swell conference promoting the San Francisco-based startup’s partnership with Bank of America is going viral.
The presentation featured mock demos of both Ripple’s XRP-powered cross-border payments product On-Demand Liquidity, as well as its payment messaging system, which does not rely on the crypto asset.
The demos quickly caused a stir among investors and advocates of the fourth-largest crypto asset, triggering a renewed discussion on Ripple’s partnerships and on exactly how Bank of America is utilizing Ripple’s network of banks and financial institutions.
— Danger Mouse XRP (@DangerMouseXRP) October 14, 2020
According to DigitalGen Financial Services CEO Panos Mekras, Ripple’s payment messaging product demo used Bank of America, while Ripple’s On-Demand Liquidity demo used the money transfer business Fast Remit as a corporate example.
Ripple’s non-XRP product, which is a competitor to the international financial network Swift, helps banks settle fiat-to-fiat transactions