Western Union refused to work with cryptocurrencies

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Payment giant Western Union does not plan to work with cryptocurrencies. This was announced by the company’s CEO Hikmet Ersek.

Western Union refused to support cryptocurrency transactions because of the preferences of customers to make transfers in fiat money.

“Consumers tell us what they want. People do not pay bills in hospitals using cryptocurrency, ” he said.

The decision of the company was also influenced by a skepticism towards these classes of assets from the central banks. According to Ersek, the financial managers do not want to give up control over local money and switch to a decentralized alternative in the form of digital currencies. The head of Western Union is convinced that the dollar, the euro and the Japan yen have more advantages than the cryptocurrencies.

Earlier DCN reported that in February Western Union confirmed information that the company is testing the possibility of making payments based on Ripple technology.