It’s not the first time that rumors have surfaced that the giant Bank of America plans to work closely with Ripple (XRP). This time Nick Burrafato, a senior executive at investment firm Linqto, reports hearing directly from Ripple CEO Brad Garlinghouse that he is extremely positive about the possibility of a far-reaching partnership with Bank of America.
Ripples to SECs
Burrafato is said to have spoken to Garlinghouse during Ripple Swell 2022 in London. Of course, this was also the famous trial between Ripple and the United States Securities and Exchange Commission (SEC) discussed. According to Burrafato, Garlinghouse is very confident that this lawsuit will have a successful conclusion.
Ripple Labs CEO Brad Garlinghouse told Linqto member sales director Nick Burrafato at Ripple Swell 2022 in London that “Bank of America will gain a competitive edge when the SEC case against Ripple settles, using ODL in the market.” https://t.co/y8g5cOdYZT pic.twitter.com/RDzGgmj8GV
— Linqto (@linqtoinc) November 21, 2022
“I first met him in Singapore in 2009, and he’s even more confident today than he was then. He made it clear that they are willing to settle with the SEC as long as they can get clarity on XRP.”
According to Garlinghouse, the ongoing lawsuit is also a major reason why companies that might want to do business with Ripple are currently still on the sidelines. According to Burrafato, the Ripple CEO specifically mentioned Bank of America as an example of such a company.
Bank of America
That would be a nice catch for Ripple. Bank of America is one of the largest banks in the world. The financial giant has more than $3 trillion in assets under management and operates globally.
“Bank of America is a great partner of Ripple,” Garlinghouse reportedly said. Additionally, Burrafato quoted the Ripple CEO as saying, “Bank of America has a lot to gain from the deal as it will have a huge competitive advantage over its competitors using ODL and the marketplace.”
All in all, this made Garlinghouse huge bullish it was, says Burrafato. However, the lawsuit must first end in Ripple’s favor. When and if this will happen is not yet known. It is clear, however, that investors have full confidence in a good result. In the chain news it was recently read that XRP funds were almost the only one with another significant influx of new money.
It must also be taken into account that the Burrafato is not exactly impartial. His company Linqto invests in Ripple and the statements were made at a Ripple event.
