3 big money transfer firms will use XRP (Ripple) in 2018 | Western Union with Ripple?

Just before a red day in the crypto market, Ripple claimed that three of the top five money transfer companies will be using Ripple XRP Tokens


3 big money transfer firms will use XRP (Ripple) in 2018

There has been a recent announcement from Ripple that three out of the top five money transfer companies worldwide will be using Ripple XRP token in their payment flow systems this year. The announcement was made on their official Twitter page.

Though this tweet doesn’t mention any details about this partnership, XRP rallied for some time overtaking ethereum as the No. 2 cryptocurrency by market cap. Ripple has gained popularity for its sometimes opaque policy when it comes to making announcements about the  XRP token.

Recently, the news about Ripple having scored more than 100 financial institutions to use its xCurrent product which is a messaging platform. However, that does not involve XRP. Many new investors have mistaken that for XRP and are giving support.

Only one Mexican financial services firm Cuallix seems to have made an official announcement regarding the use of use of XRP in cross-border money transfers. The company tweet, and comments to CoinDesk from Asheesh Birla, vice president of product at Ripple, earlier this week, suggest that more will be added this year.

In another tweet, Ripple CEO Brad Garlinghouse responded to a New York Times article. Referencing Ripple’s xRapid product, which puts XRP on top of the company’s xCurrent messaging platform, Garlinghouse wrote:

“Over the last few months, I’ve spoken with actual banks and payment providers. They are indeed planning to use xRapid (our XRP liquidity product) in a serious way.”

Despite its recent run to nearly $4 per coin, XRP has taken a hit and fallen down to almost $2 after a statement came from Coinbase about non-inclusion of Ripple in their exchange.

Hopefully, it is added for the ease of Crypto investors and enthusiasts.

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