Even though there are more than 1,500 cryptocurrencies available on the market right now, one is making the most noise. We are talking about Ripple and its innovative blockchain based platform that does exactly the opposite of what the likes of Bitcoin and Ethereum do. Unlike most cryptocurrencies, Ripple has been designed to function with big financial institutions and companies.
Western Union Joins Ripple
Therefore, Ripple keeps making headlines whenever it teams up with a new bank and yesterday, Ripple partnered with Western Union. Western Union recently made it publicly known that it’s experimenting with the XRP token and that it plans to offer cryptocurrency services to all its customers.
We should also mention that Hikmet Ersek is the one who confirmed this news and this matters because he is the CEO of Western Union. This is exactly what the CEO stated: “We’ve been testing different products with Western Union for a while. We’re excited about our work towards a pilot implementation of xRapid, which uses XRP in payment flows”.
Ripple Partners with SAMA (Saudi Arabian Monetary Authority)
Things get even better than this for Ripple investors because the cryptocurrency also partnered with SAMA which is the central bank for the Kingdom of Saudi Arabia. The agreement has already been signed and Ripple’s blockchain software (XCurrent) will be available for banks in the country.
Seeing how Ripple is surrounded by great news, no one should be shocked to find out that it’s price per token increased. This is what always happens in the cryptocurrency industry because people are influenced by news and rumors.
Nonetheless, Ripple’s XRP token is now worth $1.13 and this shows a 0.50% increase in the last 24 hours. Moreover, the total market capitalization for Ripple is priced at over $44 USD billion and it’s expected go even higher now that Wester Union has been added.