Western Union’s long-rumored relationship with Ripple is turning out to be real.
After more than a month of speculation, the money transfer company said it’s evaluating blockchain technology and is testing transactions with Ripple, the San Francisco-based startup behind the cryptocurrency of the same name.
“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,” Western Union Chief Executive Officer Hikmet Ersek said on a conference call after the company reported results Tuesday. “And we do test, we do have some tests with Ripple."