Western Union recently released a short video in which it explains that it is ready to begin working with cryptocurrencies. That being said, the video does seem to go on to outline how they actually aren’t ready and don’t fully understand crypto.
Ripple has developed a number of solutions that can reduce the costs of international money transfers, but the company has to face some obstacles on the way to the massive adoption of its technology.
Cryptocurrencies are no longer a passing fad – blockchain is changing the standards of the financial systems. Bitcoin, Ether and Ripple have initially stimulated the development of numerous start-ups, but today they experience the increasing interest on the part of traditional financial institutions.
The Saudi Arabian Monetary Authority (SAMA) is the second biggest banking institutions to adopt blockchain technology after the Bank of England.
Ripple is further expanding its footprint by collaborating with many banking as well as financial services institutions.
The UK-based cryptocurrency platform, Paybis.com has slashed the fees for Bitcoin purchase with credit/debit card by 25%.
Offering Apple Pay as a payment method in the US and later to the UK, Western Union allows customers to conveniently and reliably transfer money whenever they want.
The nomination of Satoshi Nakamoto has become possible thanks to Professor Chowdhry from UCLA who proposed bitcoin inventor for the Laureates of 2016.
Barry Silbert speaks on the future of financial service companies like Western Union and MoneyGram.