Ripple is confidently moving forward and strengthening its position. According to Bloomberg, Western Union CFO Raj Agrawal announced the start of the process of studying digital currency technology XRP, thereby confirming rumors about cooperation between the companies that had been circulating for about a month. So far, this news has not affected the XRP rate in any way.
Moreover, the Central Bank of Saudi Arabia also entered into an agreement with Ripple. Now the country's banking institutions will begin testing the company. Banks that participate in the study will use xCurrent to make payments, which will achieve transparency of the process and reduce costs.
Recall that a similar agreement has already been concluded between Ripple and the Bank of England. Santander Bank's UK branch is also expected to launch the xCurrent-based app in Poland, Brazil, the UK and Spain. True, the XRP currency, in this case, will not be used.
The financial company UAE Exchange, which is located in the UAE, also announced cooperation with the startup. It also became one of the participating companies in the RippleNet network.
Ripple is gaining momentum as a means of banking transactions, time will tell what will come of it.
You May Also Like
Stellar price moves again
The sixth best cryptocurrency has added 7% to its value over the past 24 hours. Stellar also reached a transaction volume of $3.18 million.
The collapse of the Iranian rial has increased demand even for dubious altcoins
The Iranian rial has lost almost half its value on the unofficial market since the start of the year. The government is making attempts to stabilize the exchange rate, but against the backdrop of looming US sanctions, Iranians are desperately buying up affordable fiat, gold and cryptocurrency.
