RATE Group | Western Union Hints At Using Cryptocurrency In Its Services
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Western Union Hints At Using Cryptocurrency In Its Services

20 Dec Western Union Hints At Using Cryptocurrency In Its Services

Posted at 06:53h in Cryptocurrency News by

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Odilon Almeida

American based financial service Western Union is finally ready for cryptocurrencies. In a video interview with Reuters Plus, Western Union President Odilon Almeida said the company has been evaluating the use of cryptocurrency. They are also exploring how they can improve their service delivery using blockchain technology. Western Union is interested in adopting cryptocurrencies as an option for users to exchange for fiat currencies. However, Almeida said the move would only see the light of day if it connects with a global audience.

Almeida also touched on some of the limitations of cryptocurrencies and why they haven’t achieved mainstream adoption. He listed volatility, governance, and compliance, as the three stumbling blocks against its growth. Stablecoins are actively working toward solving the problem of volatility in crypto markets. Almeida said:

Western Union is ready today to adopt any kind of currency. We already operate with 130 currencies. If…

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