Global payments company Western Union will participate cryptocurrencies. Operating in more than 200 countries, Western Union is an established and respected player in the world of international money transfers. Your interest in Ripple’s technology could have a positive impact on cryptocurrency adoption Blockchain.
During the day a conference This was announced by the company’s CEO, Hikmet Ersek, to analysts XRP the crypto of your choice. Western Union is entering into a long-term partnership with Ripple and is already actively researching various integrations and innovations. One such innovation is xRapid, designed for fast international banking transactions. Financial institutions use the technology because it can significantly reduce transaction costs. Ripple CEO Brad Garlinghouse emphasizes that XRP transactions are faster than its bigger brother, e.gitcoin (BTC).
Saudi Arabia also relies on Ripple
Western Union isn’t the only company working with Ripple. The monetary authority of Saudi Arabia has also signed an agreement with Ripple. Specifically, the country will work with the company’s XCurrent blockchain software. xCurrent is Ripple’s enterprise software solution based on the Interledger Protocol (ILP). It enables real-time communication between banks.
Is XRP Coming Out Of The Low Again?
If Western Union successfully leverages Ripple’s technology, it could lead to greater adoption of XRP. This, in turn, can increase demand for and use of XRP, which can have a positive impact on its price.
XRP can capitalize on the positive news after it hits significant decline experienced during the August 17 crash. While the price peaked at $0.93 a few weeks ago, at the time of writing the price is $0.52, so the excitement that followed Judge Analisa Torres’ decision is evident has subsided.