Western Union Embraces Ripple Blockchain And XRP Token For Enhanced Money Transactions

2023-8-27 12:40

Global money transfer powerhouse Western Union is boldly venturing into the dynamic and rapidly evolving realm of cryptocurrencies, marking a significant and strategic move in its financial landscape.

With a storied history of facilitating seamless cross-border transactions, Western Union’s decision to enter the highly-stacked cryptocurrency arena underscores its commitment to innovation and adaptability in an ever-changing financial ecosystem.

This strategic move was unveiled by CEO Hikmet Ersek during an analyst conference call, where he revealed Western Union’s active exploration of integrating Ripple’s blockchain technology and its native digital asset, XRP.

Ripple confirmed a longstanding collaboration with Western Union, stating the company has been “engaged in testing various solutions” with Western Union.

Among these innovations is the much-discussed xRapid, a solution designed to seamlessly incorporate XRP into payment systems.

Streamlining Cross-Border Payments

This trend of embracing Ripple’s blockchain-based solutions for cross-border payments extends beyond Western Union. Even the Saudi Arabian Monetary Authority has entered into an agreement to implement Ripple’s blockchain software, XCurrent, in its banking operations.

Financial institutions and remittance companies are harnessing this technology to optimize transactions, cut costs, and boost efficiency. This tangible application of XRP’s utility is driving demand for the cryptocurrency as a bridge asset, solidifying its value proposition and attracting investors in the digital finance realm.

Ripple’s CEO, Brad Garlinghouse, underscored XRP’s competitive edge in transaction speed compared to Bitcoin, positioning Ripple as a formidable contender in the rapidly evolving cryptocurrency landscape.

Ripple Solutions Boost XRP Value

Turning to the XRP price analysis, Ripple (XRP) has exhibited a persistent upward trend, with robust buying activity maintaining its value around the $0.52 mark.

This surge can be attributed to multiple factors, including the broader bullish sentiment in the cryptocurrency market. Notably, positive news such as Ripple’s partnerships with financial institutions has contributed to the upward trajectory of XRP.

This momentum has led to a significant increase in XRP’s value this week, showcasing its potential within the cryptocurrency market. Additionally, XRP’s popularity has surged in South Korea, evident from a recent survey indicating its preference among cryptocurrency enthusiasts in the country.

This heightened demand has driven a notable price surge for XRP, bouncing back from its August 18 price of $0.4762  to $0.5282 at the time of writing.

While the cryptocurrency market is known for its volatility, the entrance of significant players like Western Union into the Ripple ecosystem could potentially trigger another upswing for XRP, akin to the surge witnessed in January 2018 when XRP reached an all-time high of $3.84.

Featured image from The Cryptocurrency Post

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Exchange Union (XUC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 1.0566 (-100%)

western money union cryptocurrencies realm marking dynamic

Источник: bitcoinist.com

western money → Результатов: 63


Western Union Testing and Considering Using Ripple (XRP) for Cross-border: Credit Suisse Research

According to the research by investment bank Credit Suisse, the international money transfer service provider, Western Union is currently testing and considering the usage of Ripple (XRP). The report from late January 2020 reads, “Western Union: Testing and considering use of Ripple (XRP) for cross-border (Ripple has made a $50mm investment in Western Union competitor, […]

2020-4-14 18:27


China Dominates Stablecoin Crypto Appetite with Over 50% of Global Trading

By CCN: Chinese trading and stablecoin volume account for over half of the transactions sent and received by known parties, in the entire world, according to the latest issue of Diar. China Dominates Global Tether, Crypto Trading Trends Previous research showed certain Western countries far in the lead as far as Bitcoin exchange transaction volume.

2019-6-6 12:13


Man Pleads Guilty in New York for Selling Drugs, Laundering $2.8 Million in Bitcoin via Western Union

New York has seen the first conviction for cryptocurrency money laundering in a case that involves $2. 8 million dollars. On April 24, the Manhattan District Attorney’s Office announced that the defendants Callaway Crain and Mark Sanchez laundered the aforementioned amount of money using virtual currencies.

2019-4-24 20:01


Фото:

Men plead guilty in first NY conviction for money laundering involving Bitcoin

Two US men have pleaded guilty to running a steroid and controlled substance business that laundered millions of dollars in cryptocurrency and Western Union payments. Representing the first conviction for money laundering involving cryptocurrency by New York State prosecutors, the defendants sold their products, which they made, marketed, and shipped, on a website they controlled called ‘NextDayGear,’ as well as on the dark web.

2019-4-24 12:58


Philippines’ Coins.ph Wallet Users Can Now Get Western Union Money Transfers

New Collaboration Will See Coins.ph Wallet Holders Receive Western Union Transfers Coins.ph and the Western Union have recently started a new partnership. Now, one of the main e-wallet providers of the Philippines will unite with the leader in cross-border money transfers to enable over 5 million people to receive international transfers directly into their crypto […]

2019-4-3 21:52


Гигант Western Union Global Money Transfer присматривается к блокчейну

Главой Western Union Global Money Transfer Одилоном Альмейда было сказано о большой вероятности использования криптовалютных сервисов их площадкой, ибо компания имеет колоссальный навык в международных транзакциях, и такое внедрение сулит большие выгоды.

2018-12-21 13:21


Фото:

Western Union готова проводить операции с криптовалютами

Президент Global Money Transfer — подразделения платежной системы Western Union (WU) — Одилон Алмейда заявил, что с большим опытом в осуществлении международных денежных транзакций WU может работать с криптовалютными переводами в будущем и делать это намного лучше, чем большинство блокчейн-стартапов.

2018-12-20 23:03


Фото:

Western Union Claims to Be Technologically Ready for Cryptocurrency Adoption

In a press release and accompanying video posted on YouTube, financial services company Western Union has expressed interest in adopting blockchain technology and cryptocurrency. The video published December 17, 2018, features President Western Union Global Money Transfer, Odilon Almeida, as saying that the company could be uniquely positioned to take digital currency usage and adoption mainstream.

2018-12-19 20:00


Фото:

Western Union не отрицает возможной работы с криптовалютой в будущем

Система международных денежных переводов Western Union заявила о готовности работать с криптовалютами в том случае, если они получат широкое распространение. «Криптовалюта может стать ещё одним вариантом для обмена активами между людьми и странами.

2018-12-19 13:35


Western Union интересуется работой с криптовалютами

Президент подразделения крупной платежной системы Global Money Transfer Одилион Алмейда рассказал, что мешает цифровым деньгам стать более популярными. По мнению президента подразделения платежной системы Global Money Transfer Одилиона Алмейда, лучше любого блокчейн-стартапа с переводом криптовалют может справиться компания Western Union.

2018-12-19 12:29


Western Union заявил о готовности работать с криптовалютами

Платежный гигант Western Union объявил о готовности работать с биткоином и другими криптовалютами после того, как применение блокчейна станет повсеместным явлением. There’s a lot of hype around cryptocurrencies.

2018-12-19 12:09


Western Union говорит о своей готовности работать с криптовалютами

17 декабря Одилон Алмейда, президент Western Union Global Money Transfer, заявил, что его фирма находится «в полной готовности» работать с криптовалютами для обеспечения международных платежей. Алмейда сказал, что компания Western Union готова максимальным образом использовать технологию блокчейн и криптовалюты для своей работы, так как специализируется на международных платежах и «хорошо знает», что это такое. «Криптовалюты […]

2018-12-18 20:39


Фото:

Western Union Blockchain Patent, What Does This Mean For Ripple XRP

In February of this year, Western Union CEO Hikmet Ersek confirmed that his company was indeed experimenting with Ripple’s products for settling transactions and capital optimisation. This came a month after Ripple, which is striving to become the top-name in global money transfers, announced several high-profile partnerships including the potential tie in with Western Union’s rival, Moneygram.

2018-7-16 06:00


дальше еще 14 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Политик из Тонги разрабатывает законопроект о принятии биткоина в качестве платежного средства

Политик из Тонги, небольшого островного государства в Океании, планирует разработать и утвердить в парламенте законопроект о принятии биткоина законным платежным средством по примеру Сальвадора.

Is Mexican Exchange Bitso Behind El Salvador’s Chivo Wallet?

The mystery of the Chivo wallet persists. And Bitso comes into the picture as part of a more credible report confirmed through official channels. It seems like NewsBTC was right to doubt Forbes’s article about BitGo being behind the Chivo wallet.

Сальвадорские компании не спешат переходить на биткоин

На минувшей неделе президент Сальвадора утвердил президентский законопроект, который признает биткоин платежным средством на территории страны. Однако, как уточняет агентство Reuters, местные компании не спешат переходить на биткоин-транзакции.