It is being reported by The Daily Hodl that global payment processor Western Union is apparently preparing for the inevitable rise of cryptocurrency by experimenting with Ripple as a means of transferring value across borders.
The information comes from an interview with Western Union's general manager of Asia Pacific, Molly Shea, featured on episode 284 of the Analyse Asia podcast. In it, Shea acknowledges the need for the company to keep up in the expanding digital age. Shea states that they know the future might be crypto, and they don't want to miss out.
"When you think about cryptocurrencies, if those start to take off, we need to be ready. We need to be ready from a technology perspective. And we’ve got to be ready from – regulatory has to be there – but we constantly have to be looking for those trends where customers are looking and make sure that you’re ready to meet those needs and expectations."
To that end, Shea specifically states that experimentation is being done with Ripple and the xRapid system to see if it may be suitable as a system for Western Union to utilize.
"So the blockchain and cryptocurrency space is rapidly evolving. And we continue to explore possible applications for our business. As some examples, we’re piloting some settlement tests with Ripple for certain corridors. I think the US dollar and Mexican peso is one example."
This sounds very optimistic for the future of Ripple, especially if Western Union decides to go full ahead with their technology. In the meantime, stick with Chepicap for any updates on new companies turning to Ripple!
Jack loves Bitcoin! But how can he integrate $BTC into Twitter?Subscribe to the Chepicap YouTube Channel for more videos!