Bank of America Targets XRP and RLUSD Under New Trump Administration
- Bank of America Drives XRP Adoption
- RLUSD gains relevance in the banking sector
- SBR encourages regulatory debate
Bank of America CEO Brian Moynihan recently stated that a clear definition of rules for cryptocurrencies could accelerate the integration of these assets into the banking sector, including the adoption of XRP in payment platforms.
“If the rules are set and this is something that you can actually work with, the banking system will come in very strongly on the transactional side because we need it,” Moynihan said in an interview, noting that the institution has “hundreds of patents” ready to back technologies related to the XRP Ledger (XRPL) and the RLUSD stablecoin.
At the time of publication, the price of XRP was quoted at US$3,16, up 1.4% in the last 24 hours.
He also emphasized the importance of the US currency: “We need a strong dollar. That’s good for our country,” but acknowledged that cryptos like Bitcoin and XRP are likely to gain ground in a broader financial ecosystem. At the same time, investor Ray Dalio showed caution regarding a Bitcoin strategic reserve (SBR): “At $14.000, no, I wouldn’t. Personally,” and added: “I don’t see Bitcoin as a central bank reserve asset or something that governments would adopt at this point, although that could change if Bitcoin strategic reserves become a reality.”
In the Ripple space, reports indicate that Bank of America is already using some of its technology in internal transactions, reaffirming XRPL’s ability to make cross-border payment processes faster and more cost-effective. David Stryzewski, a financial industry consultant, said that the adoption of RLUSD is seen as promising and safe, illustrating how large banks can expand their use of cryptocurrencies when they find a favorable regulatory environment.
With Donald Trump in office, regulators with a more open stance towards cryptocurrencies are taking on prominent positions, and discussions about legislation aimed at projects such as the SBR are intensifying. There are expectations that these debates will generate opportunities for Ripple's technological creations, reinforcing XRP's position as an efficient alternative in the cross-border payments segment.
On another occasion, executive Robin Vince highlighted the relevance of digital assets: “Digital assets represent a new, interesting and innovative technology, and we have invested in custody capabilities and explored smart contracts,” reinforcing the growing influence of blockchain solutions in different financial fronts.
The combination of the new government’s pro-crypto outlook, potential legislative advances, and increased bank acceptance suggests that XRP and RLUSD could consolidate in the market, paving the way for innovation in the digital payments and reserves sector.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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