Western Union Does Tests With Ripple in Transactions

February 16, 2018

An american financial services and communications company Western Union announced that it does tests with Ripple technology and plans to implement Ripple blockchain into its transactions processing system.

CEO of Western Union Hikmet Ersek told Bloomberg:

"We are looking especially in the processing settlement and working capital optimization, also in the regulation part, on the compliance part on the blockchain capabilities."

Ripple also commented on the situation by writing a statement to Bloomberg News:

"We’ve been testing different products with Western Union for a while. We’re excited about our work towards a pilot implementation of xRapid, which uses XRP in payment flows."

We would like to add that according to a recent report, Western Union sufferуd a loss of $577 million in 2017.

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