RATE Group | Western Union Ponders Cryptocurrency, Ripple Tests Are Still Going On
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Western Union Ponders Cryptocurrency, Ripple Tests Are Still Going On

21 Dec Western Union Ponders Cryptocurrency, Ripple Tests Are Still Going On

Posted at 15:25h in Cryptocurrency News by

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Western Union is one of the world’s leading non-bank money transmission company. WU elaborated that its cautious but bullish view of the future of cryptocurrencies, as a means of worldwide money transmission. In an interview with Reuters Plus, Odilon Almeida stated the company is in perfect position to benefit from the cryptocurrency movement. He said

Cryptocurrency might become one more option for a way for assets to be exchanged between people and countries. If that happens we would be ready to launch.

Also he explained that cryptocurrency needs to master three things: governance, compliance and volatility. As Western Union is already equipped to solve such variables, it moves money across 130 currencies and devotes substantial resources to all of those three challenges.  Almeida differentiates between cryptocurrency and blockchain saying that the former has a lot of potential. Also the company claims that

There are many potential applications for the financial…

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