Western Union confirms experiment with Ripple and XRP token :


CEO comments come one month after Ripple announced an agreement with Moneygram

During the company's call for results on Tuesday, Western Union CEO Hikmet Ersek told analysts that the company is experimenting with Ripple for transaction processing and optimization. of its capital. Western Union is also testing Ripple's native currency, the XRP, a spokesman said.

The CEO's comments come one month after Ripple announced an agreement with Western Union's big competitor, Moneygram, which is also testing the XRP token for money transfers.

The use of this token by Western Union is a powerful asset for Ripple because some critics believe that the XRP is superfluous and that potential actors do not need it. Many of the experiments preferred the unique use of the company's xCurrent solution, which does not need it to work. While many banks use the XCurrent blockchain system to track their transfers, only a handful of them also use another service (named XRapid) that integrates the XRP.

The adoption of the XRP by financial institutions is critical to the growth of Ripple - which calls it a "strategic weapon" - and the value of the currency, which currently has a market capitalization of about $ 42 billion.

The remarks of the Western Union CEO on Ripple came in response to a question about the applications of cryptocurrency in money transfer.

"Is it a technology looking for a business or do you see real use cases here? Had asked an analyst during the call on the results.
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