Hello Steemians!!!
After the partnership of Ripple with Saudi Arabian Monetary Authority for providing the technology for money transactions and banking, the news of Weaten Union Testing Ripple for Money Transfers has been confirmed. Before that MoneyGram as well as UAE Exchange has also joined hands of partnerships with Ripple. It looks like the Ripple is about to build some skyscrapers in the crypto market. Look out for Ripple in coming times. I think it is gonna soar high.
Source
Western Union(WU) is a financial service provider which has confirmed the testing of Ripple Blockchain Technology for their transactions. The Chief Financial Officer of WU Mr Raj Agarwal in an interview with the bloomberg has confirmed the use of Ripple Blockchain Technology for Making Money Transactions.
Tests will continue for some weeks before the partnership is announced.
There had been speculation rather rumours about this more than a month ago now in early January. The announcement came after the WU reported its 2017 results.
Ripple CEO Brad Garlinghouse also has confirmed the news by saying that WU decided to test the model of Ripple Technology in order to facilitate their transactions. Ripple Technology is believed to be more friendly in terms of time and energy required for making a transaction.
Brad explained that the Ripple technology is one Thousand times faster and cheaper than Bitcoin Technology in terms of Transactions.
Ripple (XRP) is a Cryptocurrency as well as Blockchain Technology that is rumoured to be the future of Banking in terms of Money Transactions.
Bloomberg while talking to CEO of WU Hikmet Ersek also confirmed the news.
“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,” Ersek said, adding “we do have some tests with Ripple.”
Today the Ripple (XRP) is trading at the rate of 1.2 USD.