Western Union has officially confirmed that it is experiencing Ripple xRapid technology. The news is good for both companies, as it leads to lower fees for both users and service providers.
After more than a month of speculation, the money transfer company said it is evaluating the Blockchain network and testing transactions in collaboration with Ripple, the San Francisco launch behind the cryptomonade with the same name. Ripple aims to work with banks and other financial services providers, which contrasts with the idea of decentralized cryptomonas. Even so, most people admit that XRP has potential, and Western Union is officially experiencing the xRapid of Ripple.
"We've been testing different products with Western Union lately. We are excited about our work on a xRapid implementation that uses XRP in payouts, "a Ripple representative said in a statement to Bloomberg News.
Rumors about a collaboration have existed for weeks, but have not been officially confirmed so far, when Westen Union has publicly announced that it is testing the xRapid solution for low-cost liquidity. It is also worth mentioning that the announcement comes after MoneyGram made earlier this year, according to which they have benefited from the transfer services using xRapid and XRP.
The ability to settle domestic and international payments in a few seconds, at low or no charge, is obviously of great interest to Western Union, one of the world's leading providers of money transfer services. It has not yet been established whether there will be a collaboration as a result of Western Union testing for Ripple. XRapid technology has many benefits and remains to be seen what impact the global financial system will have. Technology seems to be cost-effective and also scalable, which represents real benefits for service providers.
source:bitcoinromania
very good news, thank's!!!
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