Western Union CEO: Crypto won`t be set in Near Future

Western Union Co. CEO Hikmet Ersek claimed the global money transfer service will not add a cryptocurrency transfer to its services anytime soon
14 June 2018   374

The head of the largest money transfer company in the world speaking at the Economic Club of New York, explained that the clients lean toward fiat money over cryptocurrencies because of the possibility for broader usability of hard assets like cash. 

The consumers tell us what they want. People aren’t paying their hospital bills in cryptos.
Hikmet Ersek,
CEO, Western Union

Ersek also mentioned central banks’ totally skeptical position relatively to  cryptocurrencies as a reason not to expand their services to digital assets. As Ersek declared, central banks are unwilling refuse of the control over their local currency to a digital or decentralized alternative. He stated that “nations are built on flags, constitutions, borders and currencies,” explaining that no central bank home to a gain currency would consider giving up that type of control.

Western Union last year in December started a campaign against wire transfer transactions including cryptocurrency exchanges because of the firm’s internal regulations. The company in a post by a Reddit user, affirmed crypto exchange Kraken that it would not process a transaction related to digital money because it was against internal rules.

We are looking especially in the processing settlement and working capital optimization, also in the regulation part, on the compliance part on the blockchain capabilities.
Hikmet Ersek
CEO, Western Union

It was also confirmed by Western Union in February that it was testing transactions with the application of Ripple’s blockchain-based settlement system. 

Zb.com to Open Office at Malta

Country made another step froward to leadership in blockchain industry
16 August 2018   142

Fifth in terms of the daily trading volumee exchange ZB.com announced plans to open a representative office in Malta. This is reported by CCN.

Secretary of the Malta Parliament for Digital Innovation and Finance Silvio Schembri said that the opening of ZB.com will be another step in the country's leadership in the blockchain industry.

At first, the Maltese branch of ZB.com will offer customers only cryptocurrency exchange, and subsequently also plans to add support for the currency. ZB.com will be the third exchange in Malta, following the offices of Binance and Bitbay, which offers the exchange of digital currencies for fiat money.

Malta is perhaps the world’s most progressive and forward-thinking nation in DLT, crypto and fintech, and we are very excited to be part of the Blockchain Island. We are confident we will be able to announce our live operations soon.
 

Jimmy Zhao

Co-founder, ZB.com

Zhao said that he was invited to Malta by his business partners and met with government officials to discuss the possibility of opening a representative office.

According to CoinMarketCap, the volume of deals on ZB.com for the last 24 hours was areoud $ 267M. The most popular trading pairs on the platform are BTC / USDT, Dash / USDT, Qtum / USDT and ETH / USDT.