Remittance firms hesitant in Crypto

Crypto Signals / Despite El Salvador’s recently passed law mandating Bitcoin as legal tender, local remittance firms are reportedly hesitant to adopt Bitcoin (BTC).

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“For Western Union and some of the other remittance providers, keep in mind that most of the volume in the remittance industry is going from developed markets to emerging markets primarily to people.

Suchoski estimates that less than 1% of global cross-border remittances are conducted using crypto assets, adding:

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“We’ve built a bridge to connect bitcoin and other digital currencies to local fiat currency,” a MoneyGram representative told Reuters, adding:

Remittance firms hesitant in Crypto

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