Recently, it has been announced that this global giant of Western Union is exploring the possible benefits of starting to use Ripple in its new piolet programme. It is in early stages, and at the moment Western Union is only having discussions with the team behind the cryptocurrency, and it is still unknown as to what the outcome of these discussions will be.
There is hope in the cryptocurrency industry that the details behind these discussions will soon come to light, as it will be a huge step for the industry as a whole.
For a good few years now, Ripple Labs have been on the forefront of pushing the cryptocurrency network to improve the worldwide payments scene. It is for this reason that this merge, with such a large and influential company, could be paramount.
Although the details are not yet clear, industry experts are speculating that Western Union are considering using Ripple as a way for them to send money in a much cheaper and faster way than the method that they are currently using.
These rumours of such a partnership were actually made by the CEO and co-founder of Ripple Labs himself, at the Milken Institute Global Conference. The conference was on financial inclusion, and Chris Larsen felt that this was the ideal time to make such an announcement. He announced that his ultimate goal would be to better connect the local banks and financial institutions around the world, as although it is possible to make phone calls or send emails to anyone, you are still only able to pay people who are in your payment network.
All eyes are on the outcome of these discussions, as it could have a big impact on the future of cryptocurrencies as a whole.