WESTERN UNION : WE ARE READY TO WORK WITH CRYPTOCURRENCIES

Western Union, a leading international money transfer service provider, has announced its readiness to introduce cryptocurrency support to “combine cash with the digital world.”

Western Union explained that the service currently has access to” billions of Bank accounts “worldwide and also works with “over half a million retail agents worldwide”. This will allow the company to effectively and usefully integrate cryptocurrencies with its own cross-border payment platform.

Odilon Almeida, Western Union President, commented:

“Western Union is ready to work with any kind of currencies today. We are already working with 130 currencies. When we feel that it is time to introduce cryptocurrencies into the platform, we will do it immediately… after all it’s just another currency. I think that cryptocurrencies can become another way of exchanging money.”

As reported, there are many potential blockchain solutions for the financial services sector and Western Union is actively exploring new opportunities to find the most relevant for their service.

Recall that in early 2018, Western Union announced the beginning of testing Ripple technology to optimize current assets, and in June, the head of Western Union Co. Hikmet Ersek said that the company will not support transfers in cryptocurrencies, as transactions in dollars, euros and yen will undoubtedly prevail over cryptocurrency.

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