Spanish BBVA Bank Breaks Silence Amid the Ripple Leak Controversy

A controversial claim by a bank employee took the cryptocurrency world by storm just 3 days before 2018 set in.

A man with a Twitter handle OB gained attention and backlash after revealing a project that allegedly involved Ripple on December 29, 2017.

OB claimed that he used to work for Banco Bilbao Vizcaya Argentaria (BBVA), a Spanish bank, and revealed that he had been involved in a pilot project that intends to drop wire transfers in favor of Ripple.

The man, whose real identity whose real identity has not been revealed yet, mentioned that the alleged project began 15 months prior the Tweet, and a bank test was conducted between BBVA in Spain and Santander in the UK. However, he mentioned that the money exchanges and the transfers were not at par with the banking standards.

In one of his now-deleted Tweets, OB stated:

“It’s not looking like a solid protocol for the way it settles payments. It’s an internal pilot not release [sic] to clients yet and looking like it’s gonna die.”

In response to the controversy, BBVA’s Spokesperson from its Communications Strategy Team sent the following statement:

“BBVA conducted a real-life implementation of Ripple’s technology last year, sending money between Europe and Mexico, and the results demonstrated just how significantly distributed ledger technology could positively impact financial services.

BBVA is continuing to work with Ripple, as well as a number of others working in the blockchain sector such as Ethereum and Hyperledger, as this technology develops and builds out into new solutions.”

Cointia will update this developing story as parties involved are welcome to contact us to air their side.