- Western Union and Ripple have teamed up for the former to enhance its cross-border transfer services.
- The source appears to be Western Union CEO Hikmet Ersek who announced the news in a conference call.
- The cordiality between Ripple and Western Union can be traced back to 2018.
Money transfer solutions giant Western Union was reported to have teamed up with Ripple to enhance its cross-border services to customers. According to an article by Cointrust, the news came from Western Union and its CEO, Hikmet Ersek.
As per the article, Western Union’s decision to embrace Ripple’s blockchain technology and incorporate the XRP token underscores the company’s commitment to exploring innovative solutions that can enhance its cross-border payment capabilities.
Ripple, renowned as a global payment network, serves as a pivotal bridge connecting banks, payment providers, digital asset exchanges, and corporations through its proprietary blockchain platform, RippleNet.
This robust infrastructure facilitates swift, cost-efficient, and dependable cross-border transactions, accommodating a wide range of currencies and assets, including the network’s native cryptocurrency, XRP.
XRP plays a crucial role as a bridge currency, enabling seamless value exchange between various fiat currencies and other digital assets. This unique functionality enhances XRP’s utility and significance within the world of international money transfers, making it a powerful tool for Western Union’s pursuit of streamlined and effective cross-border payments.
The article was also shared on Binance News, citing Cointrust again as the source. Alternatively, other sources said the same, saying it was Ersek who bared the news in a conference call.
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