Western Union announced “full readiness” to work with cryptocurrencies

Odilon Almeida, President of Western Union Global Money Transfer, said that Western Union's money transfer platform is “fully ready” to work with cryptocurrencies to secure international payments.

Almeida said that Western Union is ready to make maximum use of the blockchain and cryptocurrency technology in its work, as it specializes in international payments and “knows well” what it is.

Yesterday, on its Twitter page, WU published a video stating that the company “is uniquely positioned to connect the monetary and digital world.” It is also reported that at present the service has access to "billions of bank accounts" worldwide, and also works with "more than half a million retail outlets."

There's a lot of hype around cryptocurrencies.

Good thing we've been transferring money digitally for nearly two decades. Bring on the #blockchain : https://t.co/Z1fzoH2ujV #WUFintech pic.twitter.com/DFUVYq9vOi

– Western Union (@WesternUnion) December 17, 2018

WU President, Odilon Almeida also commented on the possibility of cryptocurrency integration:

We are ready to accept all types of currencies. Western Union is already working with 130 currencies. Difficulties with the integration of cryptocurrency on our platform should not arise, since from a technological point of view, they are also currencies. I think that cryptocurrencies can become much more popular all over the world, if this happens, we will be ready to work with them.

It is also reported that the current Western Union money transfer platform does not use blockchain technology . However, the company has been providing reliable and efficient service for many decades. Whether the blockchain will be used to make money transfers does not matter for most users.

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