Western Union confirmed it is testing Ripple’s (XRP) Blockchain-based settlement system, xRapid, which implies the use of XRP cryptocurrency.
As recently as February, leading financial analysts predicted a bright future for Ripple cryptocurrency (XRP).
The company has already established partnerships with Brazil, India and China. Also Ripple has partnered with Cuallix, MoneyGram, IDT Corporation, Mercury FX.
And recently, it became known about its collaboration with Western Union. By the way, Western Union confirmed it is testing Ripple’s (XRP) Blockchain-based settlement system, xRapid, which implies the use of XRP cryptocurrency.
If WU, an established payments provider around the world, starts to transfer cash via cryptocurrency, digital assets will get a high degree of trust.
Using Ripple XRP, Western Union will speed up the process of cash transferring and reduce the costs paid by customers for transactions.
For Ripple such collaboration may raise the XRP price.
Despite the large number of partners and prospects, XRP is trading at less than 1$.
Sources:
https://cryptodaily.co.uk/2018/03/ripple-western-union-collaboration-is-big-for-xrp/