Ripple Labs has been engaged in a federal lawsuit initiated by the Securities and Exchange Commission for well over a year.
The company has managed to expand its roots in Asian markets; at the same time, it has extended its ODL network to Africa as its 6th continent. A recent comment from Ripple Executive has hinted at another possible integration.
According to the latest tweet from Linqto, there are rumors that Ripple Labs and Bank of America are currently holding negotiations for a partnership.
The tweet was made by Nick Burrafato, who is the director of Sales at Linqto. In his tweet, he mentioned a meeting with Brad Garlinghouse held in London.
Ripple Labs is Ready to Settle the Case with SEC
Talking about his encounter with Ripple CEO, Burrafato claimed that he was even more confident than at his last meeting in Singapore in 2009.
According to him, Ripple is looking forward to settling the XRP lawsuit with expectations of getting clarity on the subject.
The Twitter user also inquired about any possible new rendezvous with new organizations once the lawsuit is concluded.
To his question, Garlinghouse responded that he claimed that some organizations are in the process of negotiation. The Ripple executive named Bank of America as one potential candidate.
As per the Ripple executive, Bank of America stands to make a lot of profits by joining forces with Ripple Labs. The banking enterprise would be able to join the ODL network available on the Ripple network and get a competitive advantage in the banking and financial sector.
When Ripple first introduced XRP, it was expected to provide an alternative to the SWIFT network.
The tweet also mentioned that Garlinghouse was also considerably bullish. The rumors about the Bank of America and Ripple connection are not new and have been around in financial circles for a while.
In 2020, Global Banking Head at BofA, Julie Harris, also confirmed the business affiliations between the DeFi and TradeFi organizations in a Podcast called Treasury Insights.