In the last few months, the company is considerably more open to cryptos and the blockchain than it was before.
Now, the company is following the will of the consumers and it is ready to add them if they are needed. Here he stated that there was no big difference between cryptocurrencies and regular digital payments, of which the Western Union has handled for years now. I think cryptocurrencies may become one more option of currency or assets around the globe to be exchanged between people and businesses.
If that happens, we would be ready to launch. Volatility is one major problem that the industry needs to sort out first before Western Union could involve itself. The crypto market also needs to take control of governance and compliance.
In this instance, stablecoins would be a necessity. Blockchain The company has already begun exploring blockchain.
However, the company did not find the results of the partnership to be too satisfactory. According to the spokesman of the Western Union, they did not save too much money by using the process. The senior vice president of product for Ripple, Asheesh Birlabitcoin vs western union that the company only made like 10 transactions and stopped and that the cost saving would come from actually using the technology to scale the transactions and make them more efficient.
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