Bank of America Patent Centers on Ripple’s Real-Time Settlement Technology

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Bank of America has filed a new patent application that focuses on Ripple’s distributed ledger technology.

According to Google Patents, the title of the application is “Real-time net settlement by distributed ledger system.” It was filed on June 6th and is pending approval from the U.S. Patent and Trademark Office.

The patent references Ripple multiple times in a series of images, and describes a Ripple “settlement scheme.”

The patent does not reference the digital asset XRP, which Ripple uses in its cross-border payment solution xRapid.

You can check out the full patent application here.

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