Bank of America News
Bank of America (BofA) is an American financial conglomerate providing a wide range of financial services and is one of the largest bank holding companies in the USA in terms of assets. It was founded in 1904 and currently headquartered in Charlotte, NC. BofA has become the first financial establishment that has included cryptocurrency in a report about forthcoming financial risks. According to Bank of America, cryptocurrency is not just a threat for their budget, but it complicates the work of preventing money laundering. Also, the company has shown its dependence on innovations made in the market of financial services, including blockchain technology, which can demand a large amount of spending for its implementation. Despite the fact that the holding has expressed skepticism about using Bitcoin, Bank of America has registered some cryptocurrency-related patents in order to prevent customer outflow.
Roelof Botha alleges the Bank of America provided “absolutely no explanation” for its decision to close his bank account in 30 days.
Bank of America Ices Ex-PayPal CFO’s Account, ‘Did You Buy Any Bitcoin?’
America’s second largest banking institution searches for a “treasury product manager” specifically working with Ripple’s technology.
Bank of America Hints It Has Hired a Dedicated Ripple Specialist
International investment bank Bank of America follows in the footsteps of Mastercard to join the Marco Polo blockchain network.
Bank of America Joins R3’s Marco Polo Blockchain Global Trade Network
Bank of America has filed a patent for a crypto-inclusive digital currency wallet with multiple tiers of access.
Bank of America Files Patent for Multi-Tiered Digital Currency Wallet
While the nation’s second-largest bank is remarkably active in registering novel blockchain-powered solutions, critics fear that this might be not in the indust...
Bank of America’s Blockchain Foray: Patent Trolling or Hedging Risks?
Bank of America has filed a patent application for a settlement system citing the Ripple ledger.
Bank of America Files Patent for Settlement System Citing ‘Ripple’
Catherine Bessant admitted that the institution has yet to find blockchain use cases for the financial services sector.
Bank of America CTO Catherine Bessant: We Haven’t Found a Blockchain Use Case in Finance