RATE Group | TransferWise CEO Claims Bitcoin Isn’t Flexible Enough For Widespread Adoption
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TransferWise CEO Claims Bitcoin Isn’t Flexible Enough For Widespread Adoption

07 Jun TransferWise CEO Claims Bitcoin Isn’t Flexible Enough For Widespread Adoption

Posted at 00:10h in Bitcoin News by

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Kristo Kaarmann, co-founder and CEO of TransferWise, a global money transfer service, has stated that cryptocurrencies are not sufficiently flexible for widespread adoption.

Kaarmann shared his views on cryptocurrency with Arjun Kharpal of CNBC during the Money 2020 conference in Amsterdam, adding that it would be exciting if people eventually use cryptocurrencies to buy everyday goods.

The last currency TransferWise launched its service for was the Egyptian pound, Kaarmann said, adding that there are more things one can do with an Egyptian pound than some cryptocurrencies.

While the financial services industry and investors have cited cryptocurrencies’ potential for global use, there have been problems with exchanges, volatility and a connection to illegal activities that have undermined cryptocurrencies’ value.

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During the conference, TransferWise…

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