Thursday, February 15, 2018

Cryptocurrency: Ripple signs a major deal with Western Union! :


"We are solving a problem that is measured in thousands of billions," said Brad Garlinghouse, the leader of the firm Ripple, about its solution xRapid. Ripple has just signed a major agreement. The firm, at the origin of the centralized cryptocurrency Ripple, has agreed with the giant Western Union money transfers.

Western Union will test Ripple
Hikmet Ersek, Managing Director of Western Union, told analysts at the group's earnings conference that he will test Ripple's solutions for settlement and capital optimization. . Better yet, Western Union will experiment with the use of Ripple's XRP crypto. This was confirmed by a spokesman for the group interviewed by 'Fortune'.

New major agreement
This is a new recognition for Ripple, who had already unveiled in January a 'deal' with Texan MoneyGram, reference of the transfer of funds. The US firm will also use the XRP digital currency via a new Ripple service called 'xRapid'.

The XRP remains, according to MoneyGram and Ripple, "the most efficient digital asset for payments, with transaction fees of a few fractions of a cent". The two firms insisted last month on fees much lower than Bitcoin fees, estimated at about $ 30 per transaction. In addition, the transaction time with the XRP would be only 2-3 seconds, against 15 minutes to one hour for other major cryptos ...

Ripple cryptocurrency reaction
The Ripple is up 6% over 24 hours, at $ 1.13 according to Coinmarketcap. This reaction may seem timid, given the potential of the announced agreement. Nevertheless, the Ripple had flared by almost 50% in seven days. In addition, rumors of agreement with Western Union had been circulating for more than a month, before this confirmation of the boss of the colossus American.

xRapid and xCurrent
Ripple offers two payment solutions to banks and financial institutions, xCurrent and xRapid. The special feature of xRapid is the use of XRP tokens. The development of this solution is very good news for native cryptocurrency, since until now, customers have focused on the xCurrent (a hundred bank customers). Western Union, for its part, is one of the first customers of xRapid ... And what a customer!
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