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Western Union Partners With Thunes To Avail Mobile Wallet Transfers

Western Union | Thunes | Stellar | Mobile wallet Transfer | Cryptocurrency

Payments giant Western Union (WU) collaborates with Stellar (XLM) collaborator Thunes, in order to allow WU clients to transfer funds directly to mobile wallets globally. As per the official press release published on March 21.

According to a press release, the partnership is aimed at enabling the use of WU’s digital network or WU agent locations to transfer funds directly to recipients’ mobile wallets. Western Union emphasizes that this feature is focussed at driving financial inclusion globally by easing financial access for the underbanked or anyone currently not supported by traditional financial service providers.

WU’s Incline Towards Cryptocurrency

The payments giant has illustrated an incline towards blockchain-based digital currencies. In December last year, Western Union Global Money Transfer President Odilon Almeida stated “Cryptocurrency might become one more option for a way for assets to be exchanged between people and countries. If that happens, we would be ready to launch.”:

Thunes

Rebranded trading name of TransferTo, Thunes is a cross-border payments network focused on emerging markets. TransferTo has had collaborated with Stellar earlier to trail the integration of blockchain-powered settlements into its services. Western Union has been already exploring Ripple’s ongoing tests to probe the cost and time efficiency value of Ripple’s blockchain-powered settlement system. As for Stellar, the network has recently signed letters of intent with six international banks have to issue their own fiat-backed stablecoins on IBM’s cross-border payment network, which is based on Stellar.

Read more:Silvergate Bank Report Suggests Crypto Client Base Went Up By 122%

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