https://www.youtube.com/watch?v=NhieGgf219Y



Bloomberg News confirmed that it has spoken to various multi national banks, who all had the same thing to say:

'We have No Intention of using the XRP token for Bank Transfers.'


It appears, Prima Facia, that 'some' Banks may have agreed to 'Test' certain 'Network Features' of Ripple's new network, but Bloomburg couldn't find a single bank that would be using the publicly traded XRP token to initiate bank transfers.


Of course, this is logical, why would a bank agree to use a publicly traded security token that may swing in value exponentially on a daily basis to move private, secure, customer funds?


Answer: They wouldn't.


At best, the XRP token is a security that would be traded by Banking Brokerages or Clearing Houses on demand for customers akin to a stock order.


A bank would NEVER, legally, or even morally, engage in risking customers pecuniary account values on a publicly traded, wildly oscillating security which could potentially jeopardize clients funds values.


Sorry to anyone who may have bought the hype, but it appears Ripple may have been engaging in Marketing Fraud with claims that banks would be using the publically traded XRP token to initiate private bank transfers.


If someone can prove Bloomberg wrong, and can provide an actual, official statement from a BANK, and not just a talking point from a Ripple press release, then we'd love to see it.


Until then: It seems Ripple is BUSTED.