Ripple and Western Union: Will They Work Together?

Ripple and Western Union: Will They Work Together?

Author: 
Michael R.
Date: 
December 20, 2018
Read time: 
2 minutes
Western Union
Ripple
XRP

Recent reports confirm that Ripple Labs and Western Union have partnered “to test whether sending payments by blockchain was faster and less expensive” - with tests ongoing. This is very positive news considering that they have tested Ripple’s technology, specifically xRapid, back in 2015, but Western Union CEO Hikmet Erset stating that tests showed it was too early to draw any meaningful conclusions.

Recent reports confirm that Ripple Labs and Western Union have partnered “to test whether sending payments by blockchain was faster and less expensive” - with tests ongoing. This is very positive news considering that they have tested Ripple’s technology, specifically xRapid, back in 2015, but Western Union CEO Hikmet Erset stating that tests showed it was too early to draw any meaningful conclusions.

Western Union recently released a video with President Odilon Almeida discussing the matter. Throughout the video, Almeida is cautious to speculate on the future of cryptocurrencies but notes that if businesses and individuals begin transacting at a significant level, then adding cryptocurrencies to the Western Union platform is just as simple as adding any other currency. In his own words, “cryptocurrencies can be another widespread option to ensure the exchange of values between people and countries, and if this happens, we are ready for the launch.”

Almeida did demonstrate at least a broad understanding of the cryptocurrency market by acknowledging that “there are two elements to the cryptocurrency. The first one is the digital currency itself and the second one is the technology behind it: blockchain,” while also mentioning use-cases for the blockchain outside of finance.

A successful Ripple Western Union partnership would be a large step forward for the Ripple Labs company as well as XRP holders worldwide.

If you want to get in on the cryptocurrency action and stay ahead of the curve, then come check out our start investing guides!

Posted by Michael R.

Michael is an entrepreneur who has been deeply involved in the cryptocurrency industry since early 2014. He joined Cryptomaniaks as a cryptoanalyst, helping to create accurate and digestible content.

Share

text