PANews reported on January 21 that according to CNBC, Bank of America CEO Brian Moynihan said at the World Economic Forum in Davos that if approved by US regulators, crypto payments will become an important part of the banking industry. He emphasized that when the rules are clear, the banking system will quickly follow up in the transaction field and regard cryptocurrencies as another form of payment.

Although the US banking industry is currently cautious about retail payments in cryptocurrencies, its institutional trading and wealth management departments have participated in the Bitcoin ETF market. Moynihan revealed that Bank of America already has hundreds of blockchain patents and is ready to enter this field at any time.

In addition, there are reports that Bank of America may have fully used XRP in internal transactions. Although it has not been officially confirmed, the statement has aroused widespread market attention to Ripple and its technological potential. The cooperation between Ripple and Bank of America can be traced back many years, and the two parties have been exploring the application of blockchain technology in cross-border payments.