Western Union CEO hints at Bitcoin adoption but only once the cryptocurrency is regulated

Last updated on January 2nd, 2018 at 12:00 am

One of the most powerful men in the remittance market, Hikmet Ersek, the CEO of Western Union, said this week that his company might be looking to adopt Bitcoin, but only once the world’s most famous cryptocurrency is regulated (at least in some of the 200 countries where the company operates).

The news was revealed during Bloomberg’s show “Street Smart”, hosted by Trish Regan. Ersek admitted Western Union could include a Bitcoin option in its service package.

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However, the CEO expects the customers to show interest and demand the option first, a request that will be considered once the cryptocurrency is regulated.

“We settle and pay out in 121 currencies […]. Once Bitcoin should be regulated, by the regulator which should be a proper currency, why not we should also use Bitcoin?”, he replied when questioned by Trish Regan, who confronted Ersek with the high fees Western Union charges to transfer money.

He added that the company will not turn its back on such an innovation if the clients prove they want to use it.

If Bitcoin is regulated and the customers want it, why not?

In the meantime, the price of Bitcoin seems to have stabilized around the $600 mark, after two weeks of some volatility, according to BitcoinCharts.com.

Featured image from Wikimedia

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