Western Union is an old name in the financial industry. It has a reputable identity when it comes to cross-border payments. Checking its year of establishment, I am surprised to know that the company has been in existence for more than seventeen decades.
For Western Union to pick up Ripple as an option for international money transfer is a significant move in the life of both companies. In the case of Ripple, everyone in the crypto space is well-informed about how the US SEC has been demonizing this crypto company. I don’t know the exact month this case started, but until now, even though the turnout of the event is favoring Ripple, still we have to wait for the outcome of the court decision. There might be surprises or switches of events that will be contrary to everyone’s expectations. No one knows. All we can do is wait.
With this new development with the Western Union, it is just natural for some supporters of this crypto company to anticipate a potential breakthrough in the coming weeks or months. Ripple might experience a run in the price of its token.
Hikmet Ersek, the CEO of Western Union confirmed the active interest of the company in Ripple’s blockchain technology, as well as in its token, XRP. As I mentioned above, this move is significant on the part of the crypto company for we were told that as a consequence of SEC’s harassment, Ripple lost Moneygram International as its payment partner. That’s the expertise of the SEC to cripple the financial operation of any innovative company out there. All praise to this almighty government agency for fulfilling its task to “protect” investors from bad actors!
The move of Western Union to explore XRP and the related ledger would perhaps restore the name of Ripple in the remittance world. Its utility when it comes to cross-border payments is well-known outside the United States. Twice a month, I have been buying XRP via coins.ph to exchange for USDT on MEXC to purchase $HIVE. I guess many in the crypto space all over the world are also doing the same to buy the tokens they prefer.
If the project of the Western Union materializes, it is not wishful thinking to anticipate that an increasing number of crypto enthusiasts will embrace XRP in the coming months. How much more if the consensus among crypto experts is proven correct that it is most likely that Ripple will win the case over the SEC?