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   1236

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. 

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   1023

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.