Crypto News Flash #96: Western Union Confirms The 'Ripple' Testing For Money Transfers In Coming Future !!
Ripple is holding third position in coinmarketcap with a capitalisation of over $43 Billion. If we talk about 2 months back, then it was over $141 Billion which actually surpassed the Ethereum's market capitalisation. Ripple actually is a blockchain based Settlement protocol which many Banks/Financial Institutions are looking forward to use in their operations in near future.
Last month, Many European Banks made contractual agreements with Ripple protocol so that they could use it in their operations in near future and that was the reason why Ripple price shot from $0.17 to $3.00
Now, another Financial Institution is having its eyes on Ripple protocol for its money transfer operations. This Institution is none other than Western Union Money Transfer.
The globally recognized and highly popular Money transfer company, Western Union, have confirmed recently that they're testing the Ripple protocol for over a month to use it for their transfer operations in upcoming future. As Ripple’s CEO Brad Garlinghouse told media that they were monitoring the growth of cryptocurrencies for sometime and especially Ripple's.
Ripple is highly cheaper and faster than Bitcoin in terms of transfer peer-to-peer. Western Union's CEO also sais that testing is going on already and :
“We are looking especially in the processing settlement and working capital optimization, also in the regulation part, on the compliance part on the blockchain capabilities,” Ersek said, adding “we do have some tests with Ripple.
So, we might expect some new partnerships coming in favor of Ripple protocol in coming months because recently Saudi Arabian Monetary Authority also made a contract with Ripple to use the technology for transferring the cross-border payments.
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Do you see XRP ripple or stellar being added to coinbase in the future.. I don't think so but a lot of other people do.. I wonder.