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Western Union In collaboration With Stellar To Offer Direct Funds Transfers To Mobile Wallets.

In line with a recent official press-release ‘published‘, leading Payments processor WU [Western Union] is collaborating with Stellar [XLM] collaborator Thunes to offer WU purchasers to transfer funds to mobile wallets globally directly.

Thunes is the latterly ‘rebranded‘ trading name of TransferTo — a cross-border payments network centered on the emerging markets. TransferTo had antecedently ‘partnered‘ with open source blockchain project Stellar to trial the integration of blockchain-powered settlements into its services.

As per Western Union’s announcement, this partnership with Thunes will enable the employment of WU’s digital network or WU agent locations to transfer funds directly to recipients’ mobile wallets.

Western Union emphasizes that this expanded practicality aims to drive monetary inclusion globally by easing monetary access for the underbanked — and anyone presently not supported by standard financial service providers.

Western Union has recently indicated it’s a lot more receptive to blockchain-based digital currencies, with the president of WU Global Money Transfer ‘stating‘ the thought of cryptocurrencies to become an adopted medium of exchange between the people and the business, the firm “would be able to launch” support.

Aside from cryptocurrency, Western Union is already exploring the ‘employment‘ of ‘blockchain‘ technology, taking part in ongoing tests with Ripple [XRP] to probe the worth and time potency value of Ripple’s blockchain-powered settlement system.

In Stellar news, six international banks have recently ‘signed‘ letters of intent to issue their own fiat-backed stablecoins on IBM’s cross-border payment network, that ‘relies‘ on Stellar.

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