Western Union Co. CEO Hikmet Ersek said the global money transfer service will not add a cryptocurrency transfer solution to its services anytime soon, MarketWatch reported June 13.
People aren’t paying their hospital bills in cryptos.” Ersek also listed central banks’ generally skeptical stance towards cryptocurrencies as a reason not to expand their services to digital assets.
According to Ersek, central banks are unwilling give up control over their local currency to shift to a digital or decentralized alternative.
In December of last year, Western Union launched a campaign against wire transfer transactions involving digital currency exchanges due to the company’s internal regulations.
In February, Western Union confirmed it was testing transactions with the use of Ripple’s blockchain-based settlement system.
