Has Ripple reached a new milestone? – According to a report by the major Swiss bank Credit Suisse, this appears to be the case. Because one of the world’s leading companies for international payment transfers, namely Western Union, has probably approached Ripple and XRP behind closed doors. Let’s take a look at the findings so far.


Ripple and the Credit Suisse report

The starting point for this news is a Credit Suisse research report (see source). The referenced report generally deals with the major topics of „Payments, Payment Processing & FinTech“. On a total of 261 pages, it provides a detailed classification of the various solutions in the payments area; this naturally includes an analysis of market participants.

The report comes to a conclusion that we already know from Ripple as „the ultimate motivation“: international payments are slow and cost-intensive.

For this reason, Ripple saw itself obliged a few years ago to create a new system that could process cross-border payments significantly more efficiently. The solution was the Ripple Ledger and the native crypto currency XRP.


The solution of Ripple was more successful than solutions from TransferWise and Co.


With the strategic acquisition of Moneygram, Ripple has already been able to attract a major player in the payment services industry to its side. This success is also acknowledged in the research report. Among other things, Ripple is attested that its own solution is significantly more successful than proprietary developments from TransferWise, Western Union or Remitly.

The following facts must be considered: Ripple and its solution RippleNet now has around 300 customers. The use of On-Demand Liquidity (ODL) in combination with XRP is also increasing. As a result, Moneygram, for example, has already been able to record a significant increase in profits, as liquidity costs have fallen significantly.


Western Union is now also among the pilot customers

On page 214 of the report, the section on Western Union and Ripple is added. After the previous pages have dealt with the influence of cryptocurrencies and decentralised solutions for cross-border payments, we now look at concrete examples.

However, the report’s statements remain somewhat unclear. That is what it says specifically:

Western Union is testing and considering the use of Ripple (XRP) for cross-border payments.

Since neither Western Union nor Ripple have any more precise statements at present, we can only speculate. The fact is that Western Union is one of the big players in the business. With a presence in more than 200 countries, it is probably one of the central contact points for cross-border payments. A potential partnership could certainly bring advantages for both companies. For one thing, Western Union could significantly reduce operating costs. On the other hand, Ripple and XRP could profit through this reputable partnership.


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