Ripple to partner with Western Union for Blockchain Payments
Western Union CFO Raj Agrawal revealed that the company was testing the efficiency of blockchain transactions.
Agrawal told that its blockchain efforts are still in a “testing phase” and are not a key part of the 167-year-old firm’s business. He included that, despite industry bullishness surrounding the promise of blockchain technology, the trial should become successful, to be a great revolution for Western Union.
The details about the current trial has not revealed yet, but it seems like Western Union will be connecting with RippleNet, the startup’s enterprise blockchain, is accessible through the company’s xCurrent product.
Anyhow, Ripple announced in January that Three of the top five global money transfer companies has planned to use XRP in payment flows in 2018. Western Union is already testing XRP integration.
According to the reports, recently, Ripple’s Price Surged more than 15% and it’s Worth was more than Uber. Last year, Ripple was increased by 89% briefly becomes third Largest Cryptocurrency in the world.