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Western Union Testing Settlement with Ripple

This is massive news.  We wrote an article last week (Link Here) on how Western Union publicly stated that they were ready to add digital assets to there service this year.  Well, last night we got some even better news from the general manager of Asia Pacific from Western Union.

Molly Shea (@mollymshea) last week featured on a podcast called: Western Union in Asia Pacific & Trends in Fintech with Molly Shea.  Molly joined the call to discuss the business and distribution footprint of Western Union across Asia Pacific.  Molly touched on how Western Union is experimenting with blockchain and cryptocurrency technologies.  The key quote is mentioned below.  The keyword you need to focus on is SETTLEMENT.  Not payment, but SETTLEMENT.  Which digital asset that Ripple use for Settlement? Which product (main) does Ripple use to settle.

At the 29:05 mark Molly states: “We’re piloting some settlement tests with @Ripple in certain corridors, I think the USD and the MXN”.

 

Here is the video Great listen from 21min mark till the end.  The good stuff about Ripple is at 29:05.

Episode 284: Western Union in Asia Pacific & Trends in Fintech with Molly Shea

 

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