Ga naar de inhoud

Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

Egyptian Pound More Flexible than Cryptocurrencies, Says TransferWise CEO

Geplaatst op juni 7, 2018 door Blockchain News

As the paradigm of finance gradually repositions from traditional currencies to cryptocurrencies, it is likely that fiat supporters may find it a hard pill to swallow. In an attempt to oppose this tradition, Kristo Kaarmann, CEO of fintech firm TransferWise, stated that the Egyptian pound has been more beneficial than most digital currencies, pointing to the emerging technology’s scalability issues.

Cryptocurrencies Lack Flexibility

On the sidelines of the Money 20/20 conference in Amsterdam, Kaarmann acknowledged CNBC’s Arjun Kharpal and that the lack of flexibility prevents the broad adoption of virtual currencies.

The CEO’s statement validates his view that even though cryptocurrencies are indeed fascinating, their usage is still relatively restricted. Kaarmann, however, hasn’t completely given up on the value of cryptocurrencies. He further stated that seeing the world buy homes, cars and even sandwiches with digital currencies is already an exciting addition to the existing financial framework.

Presenting his due regards to the crypto sector, he said, “But the last currency we launched [our service for] was the Egyptian pound and there are actually more things to do with an Egyptian pound than some of these cryptocurrencies.”

TransferWise Bullish on Fiat to Save Its Business

Amidst the swift technological development taking the world by storm, the introduction of cryptocurrencies has been a pivotal achievement. However, understanding the problems regarding the digital sector is a fundamental precursor to a good investment strategy. The volatility, the illegalities, and the regulations have subjected many traders and other agents in the space to serious doubts.

TransferWise has also declared its collaboration with France’s banking group BPCE to offer inexpensive money transfer services to lenders. Transferwise is a well-established UK based organization that came into being in 2011. Time and again, the company has proved its resourcefulness and thus emerged as a leading online service in the market.

The collaboration with BPCE also stamps Kamraan’s believe that the banking group will soon become the largest service provider due to its transparency with price signals. The collaboration also means that the bank will  offer a budget-friendly product to send money abroad.

A total of three million active users are currently passing $2.3 billion every month via TransferWise. Even though the platform has a net worth in the billions, Kamraan stated that the company does not intend to list on the stock market or fetch a banking license. The only motive at currenet is to make money exchange easy, secure and truly “borderless.”

CEO Kamraan hopes to retain the platform’s openness while continuing to promote growth for an even larger user base. However, if the crypto craze continues, TranserWise could also hop on the crypto bandwagon. A complete turnabout in the field is common, as we have already seen with JPMorgan’s CEO Jamie Dimon backpedalling on his claim that bitcoin was fraud.

 

Will Transferwise also have a change of heart?  Share your views in the comments section.

The post Egyptian Pound More Flexible than Cryptocurrencies, Says TransferWise CEO appeared first on BTCMANAGER.


Source: BTCManager.com
Original Post: Egyptian Pound More Flexible than Cryptocurrencies, Says TransferWise CEO

Ledger Nano X - The secure hardware wallet

Recente berichten

  • Crypto fundraising surges to $10B in Q2, highest since early 2022
  • Crypto funds post $1B inflows with net assets breaking new highs
  • Secret Service seizes $400M in crypto, cold wallet among world’s largest
  • Hong Kong prepares third batch of tokenized bonds, eyes more offerings
  • Bitcoin price can hit $150K in weeks thanks to Trump's 'Big Beautiful Bill'

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • juli 2025
  • juni 2025
  • mei 2025
  • april 2025
  • maart 2025
  • februari 2025
  • januari 2025
  • december 2024
  • november 2024
  • oktober 2024
  • september 2024
  • augustus 2024
  • juli 2024
  • juni 2024
  • mei 2024
  • april 2024
  • maart 2024
  • februari 2024
  • januari 2024
  • december 2023
  • november 2023
  • oktober 2023
  • september 2023
  • augustus 2023
  • juli 2023
  • juni 2023
  • mei 2023
  • april 2023
  • maart 2023
  • februari 2023
  • januari 2023
  • december 2022
  • november 2022
  • oktober 2022
  • september 2022
  • augustus 2022
  • juli 2022
  • juni 2022
  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©J Blockchain News Feed | Ontwerp: Krant WordPress thema