Report: Western Union is testing and considering using XRP for cross-border transfers

Swiss banking giant Credit Suisse recently released a research report saying that global remittance service giant Western Union is currently testing and considering using XRP for cross-border remittance services. The report also pointed out that Ripple, the operator of XRP, invested US $ 50 million in Western Union's rival MoneyGram. According to previous reports, Ripple announced in June last year that it has reached a two-year strategic cooperation agreement with MoneyGram, the world ’s second largest money transfer service company, to promote the use of XRP in MoneyGram ’s daily business. In the same month, Western Union CEO Hikmet Ersek stated that he was not opposed to establishing a partnership with Ripple under conditions favorable to both companies. Hikmet also confirmed that Western Union has never stopped testing Ripple, and the company is still testing solutions based on xRapid, XRP and other Ripple technologies.