According to TechFlow, on January 10, according to cryptodnes, Bank of America announced that all its internal financial transactions are now conducted through XRP, and the bank has also obtained 83 blockchain technology patents. This move marks the financial institution's shift to a decentralized system to improve operational efficiency and cost-effectiveness.

It is reported that Bank of America chose XRP because of its practicality in the banking environment, including real-time settlement, low transaction fees and scalability. The bank's move may set a precedent for other financial institutions and promote a systemic shift in global financial infrastructure.