Western Union Begins Testing Ripple Technologies
An American company Western Union, one of the leaders in the international money transfer market, considers the technologies of the Ripple crypto platform as a basis for its future activities, Daily HODL reports.
The representatives of Western Union believe that the crypto market will see an inevitable growth, and this is one of the reasons why it was decided to start experimenting with the Ripple products.
The future may belong to the crypto sphere, and the company must remain competitive and efficient in the digital age, Molly Shea, Western Union Digital Senior VP, stated.
In her opinion, the company needs to follow the trends that customers are interested in, and it should always be ready to offer them the best solutions to meet their needs.
From the technological point of view, Western Union also needs to prepare for the upcoming changes; in this regard, the testing of Ripple's payment solutions continues. The company was especially interested in the xRapid technology using the XRP token.
The Ripple payment solutions can be used in some payment corridors, particularly the US dollar and peso, the national currency of Mexico. In this case, the selected solutions should comply with all regulatory requirements.
As previously reported, 15% of US residents use cryptocurrency to transfer funds abroad, according to the research firm Clovr.