In a world where money is traversing the globe at breakneck speed, Western Union wishes to take things a step further by tapping a blockchain-based infrastructure. The company is looking into Ripple’s platform as a way of settling payments with more fluidity and possibly lower fees, Western Union CEO Hikmet Ersek disclosed during an earnings call earlier this week.

A spokesperson confirmed that Western Union was indeed experimenting with XRP, Ripple’s token, according to Fortune.

The fact that the company is diving into XRP is bound to add some credibility to Ripple, which has received criticism for offering an unnecessary service to financial institutions.

"We do test, we do have some tests with Ripple and we did that in some corridors also and Ripple is one example," Ersek told reporters during the conference call.

Unfortunately, the transcript provided by Seeking Alpha was quite messy, and we could only glean bits and pieces of information from it.

However, we understand he made references to conversions from “dollars to pesos” and showed enthusiasm with regard to the potential of blockchain technology in facilitating these transactions.

He also mentioned “capital optimization”, which may be a reference to moving capital more fluidly as opposed to establishing endpoints for the transfer and receipt of money.

“We’ve been testing different products with Western Union for a while. We’re excited about our work towards a pilot implementation of xRapid, which uses XRP in payment flows,” a spokesperson for Ripple said.

It would come as no big surprise to see Western Union get more involved with Ripple’s technology, especially since the latter has already made a deal with MoneyGram, Western Union’s chief rival.

MoneyGram’s implementation also uses XRP to help facilitate fund transfers, putting pressure on Western Union to get into this market and so retain its competitiveness.