Bank of America Files Patent for Settlement System Citing Ripple
Bank of America has filed for a patent for a settlement system citing the Ripple ledger, according to a filing on Google Patents.
The patent in question — the application of which was published on June 6 — describes a system using distributed ledger technology (DLT) as an interbank communication tool. The proposed system would enable real-time settlement with transactions being communicated through a shared, decentralized ledger to which both the banks would have access.