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Bank Of America Set To Roll Out Real Time Payments

XRP Ripple ILP Bank of America

Q4 just started and the news is through the roof!

Back in July Bank Of America filed a Files Patent for a Settlement System Naming Ripple. Brandon Matthew Castagna was one of the inventors of this patent which we can find on Google Patents – link below.

Real-time net settlement by distributed ledger system US2019/0172059 AI

This patent was filed back in 2017, but was just published on June 6th.  The patent describes a system using distributed ledger technology otherwise know as DLT as an interbank communication tool.  The proposed system by Bank Of America would enable real-time settlement with transactions being sent through a shared, decentralized ledger to which both banks would have access.

Today we get the news that Bank Of America is planning to roll out there new real-time payment system this quarter and at the start of Q1 2020.

Immediately send and receive payments using the first new clearing system in the U.S. in more than 40 years. Real-Time Payments can help transform how you transact, making business easier with anytime availability, sender and receiver notifications and enhanced messaging.

Charles Hunter tweeted this breaking news out this morning make sure to give him a follow:

 

Let’s look at some of the key features and benefits on this real-time payments system:

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