Moneygram, Western Union Could Lose Nearly Half A Billion Dollars Yearly, Courtesy Of El Salvador Adopting Bitcoin

The new bitcoin law that recognizes the most valuable cryptocurrency by market valuation, as legal tender in El Salvador may be putting some of the biggest finance firms providing financial services in the country out of business. El Salvador residents are beneficiaries of the transparency and speed that comes with using it to carry out […]

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Western Union Counts its Losses in Advance as El Salvador Bitcoin Era Begins

Western Union may lose business because of the rise of Bitcoin, as remittance costs are bound to be significantly lower through Bitcoin henceforth. (Read More)

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El Salvador’s Bitcoin Adoption To Cut Western Union Revenue, Increase Population Wealth

Money services providers could lose $400 million a year in commissions for remittances thanks to bitcoin, increasing Salvadorans’ money.

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Western Union and MoneyGram app usage drops as stablecoin adoption surges

Traditional remittance giants like Western Union and MoneyGram are struggling to keep pace in an evolving financial ecosystem increasingly shaped by stablecoins. According to Matthew Sigel, Head of Digital Assets Research at VanEck, downloads of remittance giants apps have dropped significantly, with Western Union seeing a 22% decline and MoneyGram experiencing a 27% reduction. Meanwhile, […]

The post Western Union and MoneyGram app usage drops as stablecoin adoption surges appeared first on CryptoSlate.

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BDO Joins CBDC Pilot Study for US – PH Remittance

Discover how digital currencies may transform cross-border payments, making them faster and more efficient, thanks to this study by the Digital Dollar Project, Western Union, Accenture, and Philippine bank BDO.

The post BDO Joins CBDC Pilot Study for US – PH Remittance appeared first on BitPinas.

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