A whale in blue water with an XRP coin by its side
News has been making the rounds that Western Union has chosen to build its digital infrastructure exclusively on Solana. This news has sparked outrage among some XRP fans.
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One of them on 29 October threatened to dump his stash of the token unless the Ripple team gave a reasonable explanation for why Western Union chose Solana over Ripple.
A battle of remittances
Ripple is a blockchain company that specializes in cross-border remittances and has become known for this specialization for years.
However, the company doesn’t seem very successful even in this niche. It was once believed that with XRP, it could outcompete SWIFT.
This dream was recently shattered when SWIFT decided to build its own blockchain infrastructure to make it better compete with Ripple.
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XRP holders still believed there was hope for the company until the latest news that Western Union had selected Solana over Ripple for its digital infrastructure.
This is significantly discouraging for XRP holders as everything they hoped could give the token more value is being taken away.
It is this frustration that made the XRP investor vent and threaten to dump his XRP if Ripple did not provide an explanation.
A gimmick
The XRP fan later said the Solana partnership was only a gimmick and apologized for his comment.
He now alleges that Solana paid Western Union $50 million for the deal, which will last for only six months.
He further stated that Solana’s native token SOL will eventually stop working, which will cause a shutdown of the entire Western Union payment system.
In comparison, he said Ripple has acquired Hidden Road, which clears $3 trillion annually, GTreasury with trillions of dollars in annual payment volumes across 160 countries, and Rail, which is responsible for 10% of all stablecoin-based payment globally, making it far more superior to Western Union which he said is used to send “lunch money”.
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