[Bank of America adopts Ripple’s XRP for international payments]
Ripple CEO Brad Garlinghouse recently hinted that U.S. banks might adopt XRP. Ben Armstrong, a major figure in the blockchain industry, has claimed that adoption by Bank of America is key to XRP’s success. Since the SEC sued Ripple in 2020, the company has faced numerous challenges, including accusations of raising more than $1.3 billion through unregistered digital asset securities offerings.
Although Ripple faced legal challenges, in 2023, Judge Analisa Torres ruled that XRP was not a security, bringing legal clarity to Ripple. Ben Armstrong believes that this heralds the realization of Ripple’s vision of global expansion.
Armstrong provided an in-depth analysis of XRP’s development, noting that a key flaw in Ripple’s software was that banks were never required to hold XRP for cross-border transactions. To this end, Ripple launched RippleNet and ODL (On-Demand Liquidity). These innovations require the use of XRP, which Armstrong described as "the real value proposition of XRP."
He further predicted that the XRP community will hear more about widespread adoption of XRP, as Garlinghouse hinted. Armstrong also emphasized that Ripple’s CEO has shown great strategic skill in achieving its mission.
