Western Union, the world’s largest money transfer service, announced that it was conducting a paycheck based on Blockchain with Ripple.
The CFO of Western Union company, Raj Agrawal, confirmed the partnership, which consists of long-running rumors, during an interview with Bloomberg. The company stated that it tested Blockchain technology for transfers.
Western Union will try Blockchain technology with Ripple
Agrawal said in his release, Blockchain technology is still in the test phase and is not an important part of the 167-year-old company. He also added that although the rise of the industry was associated with Blockchain technology, the tests were not finished yet and that Western Union had not yet given fruit.
The rumors about the experiments, which have come from the beginning of the year; He claimed that a small publication, Ripple News, was working with Western Union’s Ripple, which was learned from a source inside the company. This rumor was supported by a tweet from Michael Arrington, who recently launched the first XRP-based cryptohisse Hedging Fund.
In particular, this experiment looks like an experiment between two companies in 2015. Despite this previous attempt, it does not appear to have made any significant changes to Western Union operations.
The details about the trial are minimal, but it seems likely that the Western Union company is connecting RippleNet to the Blockchain network.
However, Ripple said in January: “In 2018, Ripple will be used as a payment method for 3 of the world’s top 5 money transfer companies.” This led to speculation that the Western Union company had already begun XRP testing.
MoneyGram announced in January that it will start XRP experiments
According to CNN’s report, MoneyGram, the world’s second largest money transfer company, announced in January that Ripple’s XRP-based xRapid product was beginning to test its internal operations. So it was the largest company that publicly tested the XRP.
Earlier this week, Ripple announced that he is partnering with the UAE exchange, one of the largest stock exchanges in the Middle East. However, Ripple joined the Ripple Consensus Ledger, the company’s publicly-traded Blockchain, as well as the majority of Ripple’s other partners.