Western Union Global Money Transfer has partnered with Ripple to test if blockchain could enhance the money transfer process. It has also announced that its platform is ready to accept all types of cryptocurrencies along with fiat money.

According to the company, the volatility issue in crypto markets can be addressed by pegging crypto coins to a strong currency such as the US dollar. Furthermore, the firm is also exploring the use of blockchain in sending payments. It is looking forward to seeing if the technology has the potential to speed up the money transfers and reduce the associated costs.

Odilon Almeida, president of Western Union Global Money, has stated that adding cryptocurrencies to its list of current services would not be a tough task. He is also positive that if people around the globe will start dealing with cryptocurrencies, then the company will adapt itself.