Western Union released a short video where they explain their intention to work with cryptocurrency.
However, Western Union’s president Odilon Almeida believes that it will not happen immediately. This is due to early development stage of crypto industry.
According to him, problems are related to high volatility, management and compliance.
“Western union today is ready to accept any currency. we already have 130 currencies. if one day we realize that “the game is worth the candle,” then, from technology the point of view, this will be just another currency. ”
Western Union is testing Ripple’s Technology since 2015
Ripple’s cross border payment technology has been tested by Western Union since 2015.
Fiat money is already transferred by Western Union digitally. They expect crypto and blockchain technology to go smoothly.
Almedia explains that there are two elements of the cryptocurrency. First one is the digital currency and the second one is the blockchain technology behind it.
Their Twitter is also pointing out that entering cryptocurrency and blockchain space might become a reality very soon.
It is always a good thing to see positive news about cryptocurrency and blockchain adoption. Year 2018. is coming to an end and it will be interesting to see what will 2019. bring in the terms or growing popularity of cryptocurrencies.
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