Western Union Partnered with Ripple for Blockchain Payments

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Ripple to partner with Western Union for Blockchain Payments

Western Union, the world’s largest money transfer service, has announced that it will be conducting the blockchain-based payment trail through Ripple.

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.

Nishanth Shetty

Nishanth Shetty is a technical writer, author and a crypto-advisor working at Cryptofame. Based in the city of dreams, Mumbai, on the west coast of India. He holds a bachelors degrees from Mangalore University. Nishanth has a myriad experience of technical writings for tech brands. His interests include technology, travel, and food.

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