Ripple (XRP) Strikes MAJOR Deal with Western Union

Ripple is showing no signs of stopping after announcing that there is even more major news in the coming year. Rumors are beginning to come through the pipeline down from executive officers and directors that Western Union is working with Ripple to transfer money from its branches. By using XRP and the blockchain technology, transfers will become more secure and faster to help consumers receive their money in a more timely fashion without having to stress over digital threats. The financial transfer company, which generated over $5B in revenue for 2016, is a major player in their respective industry. With all the cryptocurrencies that are on the market, the fact that one of the largest exchanges chose Ripple speaks volumes of their secure transactions.

From the chart, XRP promptly rose 20%, an important maneuver since she lost a considerable amount of value once Coinbase denied listing the coin on its online wallet. Although affirmation of the rumors are being declined, the more important news is that neither party is denying this information. The two companies have worked together in 2015 to develop ways to improve distributed payment protocol. This rapport that has already been establish gives Ripple a significant advantage over several other coins as the company can leverage their past relationship and business dealings with Western Union to win contracts.

Also, as Ripple has announced that in 2018, some of the largest money transfer companies in the world will soon be going public with payment options through XRP. As the cryptocurrency continues to emerge and set herself far apart from the competition, there is no denying that the banner year in 2017 may soon be rivaled by the impending daily announcements we may see this year. While several Japanese banks have gotten on board with Ripple, the strong international relationships continue to grow as England’s Standard Chartered, an international bank whose total assets amount to US$646B owns a stake in Ripple. This partnership gives the cryptocurrency a unique benefit to move through several nations while gaining influence in each one as she passes. The ability that the angel investor of Ripple, Chris Larsen, has to navigate contracts and negotiate terms with such massive financial institutions is at this point nothing short of remarkable. As the man owns 5.19 billion XRP tokens, he may legitimately become the world’s first trillionaire. He briefly passed Mark Zuckerberg already for the fifth richest person in the world when Ripple briefly was trading at $3.85 and may soon establish himself as wealthier than the founders of Google and Oracle in the coming months so stay tuned.

Cryptocurrency Financial

Quick reads for cryptocurrency news and industry insight

Justin Ruggiero

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Cryptocurrency Financial

Quick reads for cryptocurrency news and industry insight