One of the biggest international money transfer operators Western Union has officially confirmed that it conducts transaction testing with Ripple, Bloomberg reports.
The project is at the initial stage now. The operator does not consider it as the main element of the business.
Details of potential cooperation were not yet disclosed. It is still unknown which Ripple product is being tested, xCurrent or xRapid, as well.
The Ripple statement, in turn, says specialists work towards a pilot implementation of xRapid, which uses XRP in payment flows.
Raj Agrawal, the head of Western Union financial department, officially announced news about cooperation recently.
The news did not affect the value of Ripple. As of February 15, it was $1.13. Some experts suggest that Ripple will cost $3 or even $10 by the end of 2018.
Ripple technology was created for international transactions using blockchain. Initially, Ripple's main goal was to implement the system in the banking sector. The platform aims to increase the speed of transactions and reduce fees. Ripple has already signed cooperation agreement with several major international companies, including UniCredit, Santander, Fidor.
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