WU Global Money Transfer executive says that digital assets can be added to the WU platform when time comes.
Western Union is better positioned to deal with crypto transfers than any other blockchain startup, says EVP of Global Money Transfer at WESTERN UNION, Odilon Almeida. And the underlining technology of digital money allows to exchange information quickly and effectively.
The company has shown a keen interest in cryptocurrencies. Earlier, WU worked with Ripple to test the efficiency and rapidness of money transfers via blockchain.
WU can already add bitcoin, but the latter is short on widespread adoption, as it needs more regulatory control and less volatility, said Almeida.
“Cryptocurrency may become one more option of currency or asset around the globe to be exchanged between people and businesses. If that happens, we would be ready to launch,” he underlined.
The money transfer platform has been searching for solutions to cryptocurrency problems and has already spent considerable resources to achieve that. Yet in summer, Hikmet Ersek, Western Union CEO, stated the company would not work with cryptocurrency as people don’t need them, while central banks would never give bitcoin a green light.