Western Union Embraces Ripple Blockchain And XRP Token For Enhanced Money Tra...
Global money transfer powerhouse Western Union is boldly venturing into the dynamic and rapidly evolving realm of cryptocurrencies, marking a significant and strategic move in its financial landscape. With a storied history of facilitating seamless cross-border transactions, Western Union’s decision to enter the highly-stacked cryptocurrency arena underscores its commitment to innovation and adaptability in an […]
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Global remittance giant Western Union is reportedly working on a pilot program with distributed payment protocol provider Ripple Labs. The news was first revealed in a tweet by Ripple Labs promoting CEO Chris Larsen's appearance at Global Conference 2015, an annual event held by non-profit think tank the Milken Institute. The pilot was further confirmed by Monica Long, VP of marketing and communications at Ripple Labs, who told CoinDesk that while Western Union is "exploring a pilot project using Ripple", no further details on the initiative were available. Long did, however, suggest that....
Western Union has formally responded to statements suggesting it is taking concrete steps toward using distributed ledger technologies via a partnership with Ripple Labs. Long cited as a technology that could enable more cost-effective cross-border payments, Western Union has, as commentators have noted, what is perhaps one of the more evident vested interests in exploring digital currency offerings. Still, representatives for the Colorado-based company remain tight-lipped about what the proposed project with Ripple Labs would entail. A spokesperson told CoinDesk:
Ripple Labs CEO Chris Larsen sent the digital currency community buzzing this week when he tweeted that Ripple Labs is working with Western Union on real-time payment settlements. Many view such a partnership as a sign of Western Union's willingness to become more active in the digital currency space. The partnership also signifies a growing recognition of Ripple Labs' open protocol that lets people send digital currency across the Internet-based distributed network. Ripple Labs signed an agreement in the fall with two U. S. banks (Cross River Bank in New Jersey and Kansas-based CBW Bank)....
The global remittance giant Western Union might use the digital currency ripple in a pilot program. Western Union has confirmed it is currently in talks with Ripple Labs, the company behind the digital currency, but details remain scarce. However, if the program comes to fruition, it would be a landmark moment for ripple and the larger digital currency industry. Vice President of Marketing and Communications at Ripple Labs Monica Long did not confirm the details of the project but did add, "In general, financial institutions and networks use Ripple as a technology that powers real-time....
A combined 130 million people in Bolivia and the Philippines now have access to Western Union’s new digital dollar, USDPT — a US dollar-backed stablecoin running on the Solana blockchain. Related Reading: Institutional Crypto Momentum Grows As Standard Chartered Invests In GSR A Big Name Makes Its Blockchain Debut Western Union, which moves money for […]