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.
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