After MoneyGram, Western Union looks at Ripple

20.02.2018 / 02:54

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Western Union's desire to use Ripple has long been spoken, but only last week the company confirmed that they were testing transactions through xRapid. Western Union Executive Director Hikmet Ersek said experiments with Ripple are just a small part of a broader Blockchain technology study.

Ripple, on its official website, explains xRapid as a solution for "payment service providers and other financial institutions who want to minimize their liquidity costs while improving their customer experience." XRapid sells XRP tokens against local currencies, thus rapidly providing liquidity to international translations.

At present, Ripple is in a rising impulse, driven by positivism across the entire Crippto market, and we can not accurately tell what the market reaction is after the announcement of Western Union news. MoneyGram, another global money remittance service, has adopted xRapid in January, causing a surge in the cost of XRP.

Despite skepticism in general, Ripple has managed to launch joint projects with the central bank of Saudi Arabia, UAE, Santander, RakBank, Cuallix and other major financial institutions.

Source: Finance Magnates

Jr Trader Petar Milanov

Finance Magnates: The Rumors Are True: Western Union Experiments With Ripple’s ‘xRapid’

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After MoneyGram, Western Union looks at Ripple

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