Remittance giant Western Union says it’s closely watching the pace of global cryptocurrency adoption and is ready to add crypto as a payment option for its customers at any time. According to Western Union global money transfer president Odilon Almeida, integrating crypto into the company’s overall lineup of currencies is an easy task. “Western Union is ready today to adopt any kind of currency. We already operate with 130 currencies. If we one day feel like it’s the right strategy to introduce cryptocurrencies to our platform, technology-wise it’s just one more currency.
I think cryptocurrency may become one more option of currency, or assets, around the globe to be exchanged between people and businesses. If that happens, we will be ready to launch.” The company is well-positioned to help bridge the gap between cash and crypto, and boasts it has access to billions of bank accounts and over half a million retail agent locations.
Western Union has been actively testing Ripple’s cross-border payment technology since 2015. The company says those tests remain ongoing. Despite lackluster preliminary results, Western Union CEO Hikmet Ersek cautioned that the company’s tests with xRapid were early and potentially “too small” to draw firm conclusions.