Bloomberg reports that Western Union’s relationship with Ripple, which has long been rumored to be a reality. After nearly a month of all sorts of tremors in this regard, the company engaged in the transfer of money, said that assesses the technology of blockchain and tests transactions with Ripple, located in San Francisco startup, producing the same name cryptocurrency.
The head of Western Union Hikmet ersek During an Internet conference held after Wednesday the company announced the results, said:
“We are interested, first of all, in the launch of payment processing and working capital optimization, as well as regulation and compatibility with blockchain.”
Payment companies such as Western Union, headquartered in Englewood, Colorado, typically use pre-subsidized accounts for Fund transactions, which imposes restrictions on the movement of capital. Ripple blockchain technology and XRP digital currency are able to speed up the process of money movement, thanks to which last year the digital token grew by 33,000%, although the coin, as such, does not play a key role in the implementation of payments.
In a statement on Wednesday, the company sent a Ripple of Bloomberg News, said:
“Together with Western Union we tested various products for some time. We are pleased to announce that we are working on a pilot implementation of xRapid, which uses XRP in the payment flow.”