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Western Union doesn’t need Bitcoin in its current infantile state. Conversely, if and when Bitcoin reaches adulthood the world would no longer need Western Union.
In an interview with Cointelegraph, Alex Holmes, Moneygram CEO, cited importance of KYC (Know Your Customer) regulations and user verification.
CoinTelegraph discusses the present and the future of international money transfer market with Peter Ohser from MoneyGram at Europe Money 20/20 that took place in Copenhagen.
Increasing awareness of the Bitcoin remittance market has put mounting pressure on extant fiat-based money transmitters to adapt their business models. Western Union has received much negative attention this year due to its corporate reaction to Bitcoin, so CoinTelegraph spoke to MoneyGram’s Peter Ohser to see how its competitors view the current market.
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