15 votes

El Salvador’s new bitcoin wallets could cost Western Union $400 million a year

3 comments

  1. Adys
    (edited )
    Link
    I so hope it does. As someone working in Fintech, i cannot stand rent seekers like WU. Almost all currency exchange and transfer systems are shit (the one exception is Wise).

    I so hope it does. As someone working in Fintech, i cannot stand rent seekers like WU. Almost all currency exchange and transfer systems are shit (the one exception is Wise).

    9 votes
  2. bilbodwyer
    Link
    I do hope this experiment with bitcoin works out for El Salvador (in part due to it probably helping increase the value of my shares in BTC mining), but i do wonder how they plan to handle the...

    I do hope this experiment with bitcoin works out for El Salvador (in part due to it probably helping increase the value of my shares in BTC mining), but i do wonder how they plan to handle the volitility of the currency. That the wallet app can use USD as well as BTC is smart, for sure. Above all, saving expats money on remittance fees is very well thought out, and I'm sure a welcome change for many Salvadorans

    4 votes
  3. ConalFisher
    Link
    Oh no, a massive company losing a small proportion of its revenue, how terrible!!!!!!

    Oh no, a massive company losing a small proportion of its revenue, how terrible!!!!!!

    4 votes