Recently, the global financial system has been seeking more efficient cross-border transaction solutions through blockchain technology. A notable example of this cooperation is the engagement between Ripple and Western Union.
Confirmation of Western Union's Participation
A recent tweet by crypto researcher SMQKE confirmed the long-standing partnership between Ripple and Western Union. According to his statement, Western Union has already conducted advanced trials of Ripple's technology. This assertion is backed by documents indicating that since 2014, several financial institutions, including HSBC and UBS, have tested or implemented Ripple’s technologies.
Global Financial Institutions Collaborate with Ripple
The documents also highlight a broader pattern of collaboration. Banks such as Bank of America Merrill Lynch, Santander, and Standard Chartered are founding members of the Global Payments Steering Group, which was established to develop standards and rules for using Ripple technology in global payments.
Public Commentary and Clarity on Ripple’s Adoption
In response to SMQKE’s tweet, an X user, Darius Ellis, noted that many still call this speculation despite the evidence. He asserts that Ripple is not merely testing its technologies but is actively embedding them into the financial infrastructure. This highlights the significance of documentary evidence in assessing Ripple's standing in the market.
The confirmation of Western Union's testing of Ripple's systems helps shift the discussion from hypothesis to fact. It also validates Ripple's growing influence in inter-institutional transactions, emphasizing the importance of its technology in modern finance.
