• Ripple's XRP Isn't Making Western Union's Payments Cheaper, CEO Says

    7 days ago - By Fortune

    Since Western Union began testing Ripple's cryptocurrency , known as XRP, for payments six months ago, the money transfer company has yet to see a financial benefit.
    Ripple has long touted its blockchain technology as a faster and cheaper way to move money internationally. But Western Union CEO Hikmet Ersek said that while his company is still experimenting with Ripple's product xRapid-which uses XRP as a conduit to transfer money between foreign currencies-for payment settlements, it has not saved money so far.
    “We are always criticized that Western Union is not cost-efficient, blah blah...
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