Western Union Testing Ripple (XRP) for Cross-Border Payments Despite Being ‘Less Bullish’ on Crypto Assets
Western Union is not giving up on the potential of cryptocurrency and continues to test the digital asset XRP.
According to a 2020 research report from Credit Suisse, the money transfer giant is exploring whether the technology can boost the speed and lower the cost of international payments.
Researchers say Western Union is “testing and considering use of Ripple (XRP) for cross-border [payments]” despite the fact that the company was “initially less bullish” on the technology.