Ripple is known for its partnerships and links in the Cryptocurrency space. The organization set a milestone at the 2018 Swell conference when it said Ripple would have crossed the 200 mark in terms of number of partners by the end of the fiscal year.
The rumors were turning again when Hades, a full-time shareholder and cryptocurrency investor, claimed that Ripple was planning an acquisition with Bank of America soon. According to Twitterati, the information was legitimate and came from major sources within the two companies.
Hades Tweet said the event will be a massive acquisition between Bank of America and Ripple this summer. No details of the alleged acquisition were disclosed, with many members of the XRP military demanding evidence. The Twitter user informed the XRP community that more details would be provided before the acquisition, as this would help people “but in XRP”.
$ XRP INSIDER INFORMATION:
There will be a massive acquisition between Bank of America and #Ripple in summer. This comes directly from several insider sources in the two companies.
I will let people know before buying when to buy in XRP. See you soon.
– Hades 🔥 (@BitHades) April 7, 2020
Bank of American is currently partnering with Ripple, and rumors have turned their back since the two joined forces. In a recent interview on emerging digital payment technologies, a senior executive at Bank of America praised Ripple’s abilities as a partner, and Julie Harris, head of global banking at BoA, said:
“… It is not about our platform and our capabilities, it is about you as a customer and the infrastructure you have and our ability to integrate with us, whether with platforms -forms and capacities that we have built or partnerships that we have with Ripple or Rapide. These are Fintechs with which we work in partnership. They have gone through all of our legal rigor and compliance and we are able to leverage our banking services as a platform to provide that to you. “
This statement was in line with what Hades claimed, as it also verified another rumor circulating in the cryptocurrency space. Since BoA and Ripple started working together, the industry has been buzzing with speculation that the bank would start using RippleNet. This received more weight because, in 2019, the Bank of America hired a Ripple specialist without any comments.
Hades’ latest tweet caused a stir in the XRP fan base because it resonated with previous tweets created by other cryptocurrency Twitter users. An XRP fan, omniscientAPE said:
“oh ok buddy, @AlexCobb_was wayyyyyy in front of you, and guess what, he didn’t need an “insider”
To this, Hades replied:
“Lol Alex Cobb is confused and never said that Boa would acquire XRP. Stop doing stuff. “
The rumor is mainly related to the use of RippleNet, but the BoA has not made any official comment on the partnership. If the news turns out to be true, it will have a major impact on its global reach as well as on the market volume of XRP.XRP, Ripple’s new cryptocurrency functions as the backbone of the RippleNet network and the BoA merger will open the doors of the general public to the third digital asset on the market.