The international money transfer provider, Western Union revealed they are more than ready to adopt cryptocurrencies when necessary. In a video released recently, the institution stated they wouldn’t mind connecting the cash and digital world.
Controlling over half a million retail agent locations across the world, the transfer giant is ready to adopt cryptocurrencies when demanded. This is according to Odilon Almeida, which is the president of Western Union.
We reported yesterday about how countries are looking to adopt Blockchain and cryptocurrencies. Now, two government ministries in South Korea, Ministry of ICT and the Ministry of Ocean and Fisheries are exploring Blockchain in shopping.
According to the report by CryptoDigest, the pilot project will test how blockchain can be used to make the country’s shipping industry more efficient. The funding comes from the $9 billion the company budgeted in June for Blockchain testing.
Moving on to Europe, Malta is planning on building it’s first Crypto bank. The crypto-friendly country is focusing on how to change the way traditional finance is operated.
The project will be made possible thanks to OK Blockchain Capital Limited, a blockchain firm which is the brain behind RnF Finance.
The company also applied authorization to operate a credit institution from the Malta Financial Services Authority. There are also plans to open doors to crypto related companies.