Global money transfer giant Western Union confirmed that it is currently negotiating with Ripple Labs, the company behind digital currency XRP.
Vice President of marketing and communications at Ripple Labs Monica long not told about the details of the project, but added:
“In General, financial institutions and networks to use Ripple as a technology that allows you to make payments in real time in any currency. Ripple was created in order to create online value in the world to move value as easily as information moves today.”
Ripple Labs has long been promoting payment network of digital currency as a way to improve the global payments and many suspect that the giant remittances can use the digital currency as a way to send money faster and cheaper, although this has not been confirmed.
According to the comment made by the Director of global corporate communications at Western Union Kristin Kelly, it seems that the giant remittances is interested in using digital currencies for “settlement”, but refused to elaborate.
“We have had preliminary discussions with the Ripple on the pilot project, but it is too early to discuss details,” said Kelly.
According to the CEO of Ripple Labs, Chris Larsen, we have this issue where many different payment networks, whether in the U.S. or Kenya or Europe — not connected. Now you can call or send an email to anyone, but pay you can only those people who are in your payment network.
Apparently this is the purpose of a potential partnership WU and Ripple Labs. If the program will still be implemented, it would mean a dramatic policy change global giant remittances and the advancement of the industry of digital currencies.
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