Money service Western Union in crypto coin

Money service Western Union in crypto coin

World February 14, 2018 16:06

amsterdam - Western Union, the world's largest money transfer service, tests payments with digital currency ripple.

The 167-year-old American money company uses the blockchain, the digital database, an online accessible non-central used 'general ledger', in which crypto coins such as bitcoin or ripple can be transferred from one owner to another in unique transactions.

Rumors have been around since 2015. According to Western Union's cfo Raj Agrawal, this is a test of the most efficient form of payment.

The confirmation by Western Union is striking: all major investment banks on Wall Street still turn away from the crypto coins. Small banks in Europe do enter into accounts with the coins.

According to Bloomberg, Western Union is most likely to enter into a relationship with RippleNet, especially from the blockchain of the startup.

Earlier, the CCN website reported that MoneyGram, after Western Union the largest payment processor, started testing the blockchain.

Ripple previously reported cooperation with the largest payment agency in the Middle East, the UAC Exchange.

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