Cryptocurrency market update: Western Union partners with Thunes for cross-border remittance - no update on Ripple (XRP) trials

  • Western Union is working hard to ensure that seamless cross-border remittance becomes a reality.
  • Western Union is now going to utilize Stellar (XLM) based technology courtesy of Thunes’ network to revolutions international payments.

The global payments behemoth, Western Union is reported to have signed a partnership agreement with a blockchain fintech startup referred to as Thunes. According to a report published by Finextra on March 21, Thunes focuses on cross-border payments. The new collaboration will see Western Union customers move funds straight to the recipient’s mobile wallet.

As the economy of the world continues to grow, there is a constant need to have faster cheaper and efficient cross-border funds transfer system. Western Union is working hard to ensure that seamless cross-border remittance by exploring the ways to leverage the blockchain technology.

Western Union is now going to utilize Stellar (XLM) based technology courtesy of Thunes’ payment network in a bid to revolutions international payments. The partnership is expected to bring financial services to customers across the world including people in remote regions

The Global Head of Account Payout Network at Western Union, Sobia Rahman said in regards to the new development:

“We are continuously expanding and enhancing our account payout portfolio, providing customers with multiple payout options including bank accounts, cards or mobile wallets. Our goal is to make digital money transfer services more accessible, with a specific focus on enabling mobile transactions.”

Western Union is not new to the blockchain technology and cryptocurrencies. In fact, the payments guru has run trials on Ripple (XRP) in the past, however, no clear direction has been released in regards to XRP adoption.


Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price update: BTC/USD struggling with descending trendline resistance for 3 straight months

Bitcoin price is back above $10,000 after a brief visit to $9,600 on Thursday. The failed attempt to sustain gains above $10,400 last week had demoralized the bulls. For a few days, Bitcoin buyers had just enough energy to defend $10,000 while hoping for a breakthrough to the upside. 

More Bitcoin News

Ethereum (ETH) price analysis: ETH/USD bulls knock at $200.00

The second largest cryptocurrency with the current market capitalization of $23.4 billion hit $224.40 during early Asian hours. The coin has retreated to $218.50 by the time of writing amid strongly bearish short-term sentiments. 

More Ethereum News

IOTA Foundation develops atonomous and decentralized marketplace

IOTA is working on the world's first industry marketplace. IOT/USD stays range-bound, vulnerable to the further downside correction.

More IOTA News

Ripple's XRP technical analysis: XRP/USD big retest on the cards

Ripple's XRP price on Friday is trading firmly in the red by some 3% in the session. XRP/USD bears are forcing the price to give back the strong gains seen earlier in the week.

More Ripple News


Bitcoin weekly forecast: Let the altcoin season begin

All major altcoins demonstrated strong growth while Bitcoin reluctantly oscillated in a tight range and stayed vulnerable to bearish sentiments. The first digital currency spends the best part of the week hovering around $10,200 level.

Read the weekly forecast