Ripple attracts the network of the largest money transfer operators

The payment network of Ripple continues to make progress, attracting the use of its technology to the world's largest money transfer operators. This week the company can boast of two successes: Western Union and UAE Exchange join Ripple Net.

Leader in the world market of money transfers, Western Union told about the joint experiment with the company Ripple to make payments in the detachment.

The financial director of Western Union, Raj Agrawal, confirmed the long-standing rumors of a partnership in an interview with Bloomberg, saying that the company is testing transactions in the blockroom.

Agrawal said that while the project is in the "testing stage" and is not included in the main components of the company's business with a 167-year history. He also added that, despite the general positive attitude towards blockade technology, it is too early to judge the results of the experiment.

It is noteworthy that in 2015 these companies already conducted a joint experiment, but its results did not affect the operations of Western Union.

Details of the new experiment are not reported, however, apparently, Western Union is going to join the corporate blockade RippleNet, which is accessed through the product xCurrent.

In January, Ripple said that "3 of the world's top 5 money transfer companies plan to use XRP in payment flows in 2018", confirming the assumption that Western Union is already testing the integration of XRP or is going to expand the scale of the experiment by including XRP tokens .

The world's second-largest money transfer service MoneyGram also began testing the Xpp-based Ripple product for internal processes in January this year.

Earlier this week, Ripple spoke about the partnership with the payment giant UAE Exchange - one of the largest money transfer services in the Middle East. Similar to most other Ripple partners, the company joined RippleNet's closed block, ignoring the public blockbuster Ripple Consensus Ledger.

Interest in Ripple technology also fails on the part of the world's largest banks.

Following the Bank of England, which began working with the start-up last year, the Saudi Arabian Central Bank is also going to test the technology. The head of Ripple, Brad Garlinghouse, spoke about this at the Blockchain Connect Conference in San Francisco.

"Such a revolutionary program is first launched by the central bank. Participating banks from the Kingdom of Saudi Arabia will use xCurrent to make instant payments inside and outside the country, increasing transparency and lowering costs. "

At the beginning of the month there was also news that the Spanish bank Santander launched a mobile payment application using xCurrent technology. Last week, Chinese money transfer operator LianLian International joined RippleNet.