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The cryptocurrency market has sparked a keen interest in financial institutions, but the ups and downs that followed have held some major institutions at bay. However, Western Union has good news for Ripple fans, according to Molly Shea, director general of global remittances for the Global Union for Cash Transfers, in the Asia-Pacific region.
Shea in a podcast interview with Analyseasia said:
"We are testing some settlement tests with Ripple for some corridors, the US dollar and the Mexican peso are one example, we are learning more about the opportunities that we have … the options we choose should be legitimate and widely acceptable to consumers ".
Shea has informed the public of his views on his views on the blockchain and its remittance applications, while baduring listeners that the physical currency "is not going anywhere". Shea said the field of cryptocurrencies is still evolving and that it's important to stay abad of technological advances to know its application to meet your needs. Shea has also informed:
"We invested in a group of digital currencies. It is a fund that finds cutting-edge information on block chains and cryptocurrency space. "
The president of Western Union Global Money Transfer, Odilon Almeida, said in an interview with Reuters Plus that the company was "ready to adopt any type of currency," potentially crypto-currency.
He had stated that there was not much difference between cryptocurrency and normal digital payments. According to Almeida, the long-term position of the company prepares it in a manner conceivable for the launch of any type of currency, including currencies based on block chains. He said:
"We are already operating with 130 currencies. If we think one day that the right strategy is to introduce crypto-currencies on our platform, from a technological point of view, it's one more currency. I think crypto-currencies can become an additional option among currencies or badets around the world to be exchanged between individuals and companies. If this happens, we will be ready to launch.
While Western Union and Ripple's xRapid are striving to make fast cross-border payments, these pilot settlement tests could greatly contribute to this goal.
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