During an interview with Bloomberg, Western Union CFO Raj Agrawal confirmed that the company tested the blockchain transactions. According to him, the transactions are still being tested. This cooperation did not appear to produce any significant changes in Western Union’s operations. This testing is not a key part of the business.
The company unveiled this information after more than a month of speculation. An insider claimed that Western Union was working with Ripple. In January, Ripple stated that “3 of the top 5 global money transfer companies plan to use XRP in payment flows in 2018”. This statement also raised the speculation that Western Union is already testing XRP integration.
Earlier this week, Ripple confirmed a partnership with UAE Exchange, one of the largest money transfer services in the Middle East.