[2016-04-29]What does Western Union Want With Digital Currency Group?

[Blawpaw]

What does Western Union Want With Digital Currency Group?

Bitcoin has often been referred to as the disruption of the remittance sector, due to its global availability and low fees when sending money around the world. It comes as quite a surprise to find out Western Union has invested in Digital Currency Group, a company focusing on Bitcoin and blockchain...

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[richardsNY]

Western Union knows that they don't stand a chance against Bitcoin. I wouldn't be surprised if they at some point will offer Bitcoin related transactions for a certain fee. You want to send $100 worth of Bitcoin to MrX and MrX can pick up that amount in fiat at Western Union points. And vice versa. It would be dumb from them not to do this.

[Carlton Banks]

I wouldn't be surprised if they at some point will offer Bitcoin related transactions for a certain fee. You want to send $100 worth of Bitcoin to MrX and MrX can pick up that amount in fiat at Western Union points.

I'm not too sure about that. It seems to me that WU must have relationships with the banking industry in each separate country they operate in. If WU started cutting those business partners out of the deal, there's a strong incentive for the banking lobbyists to get the local politicians to shut WU down in that country. They call 'em banksters for a reason, y'know