Western Union has highlighted that if it eventually joins the world of cryptocurrency, it is solving the three main problems that hinder the growth and acceptance of digital currencies worldwide.
The president of the Odilon Almeida Orange Union Global Transfer in a ReutersPlus video in a blog post from the company said that because of the long-standing experience of the financial platform that transfers funds worldwide, it will solve the problem of governance, compliance and volatility that has reduced the success of the sector.
Western Union, which boasts of moving money into 130 currencies, said it had dedicated enormous resources to solve the three challenges that the cryptic space is facing.
The profound knowledge of the financial company in international payments makes it exceptional to benefit in the territory of cryptocurrency.
Odilon Almeida points: "There are two elements in the cryptocurrency: the first is the digital currency itself and the second is the technology behind it: blockchain."
She states: "Cryptocurrency could become another option for a way of exchanging goods between people and countries, if that happens we would be ready for launch."
Ripple (XRP) -Western Union Partnership
Not long ago, Western Union collaborated with Ripple Labs to say whether sending money via blockchain is faster and cheaper. Until now, the company is still testing Ripple's cutting-edge solutions.
An interesting thing is that Western Union, according to Almeida, is interested in adding cryptocurrency to its customer options due to the fact that the company has been in the remittance sector for two decades.
Now, the enthusiasts of the cryptocurrency are optimistic Western Union is adding Ripple's XRP, it could be through its xRapid tool.
Since 2015, Western Union has taken over the Ripple cross-border remittance tool, however, Western Union CEO Hikmet Ersek has not declared anything tangible to confirm the company's readiness to integrate xRapid.
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