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El Salvador’s new bitcoin wallets could cost Western Union and similar companies $400 million a year
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El Salvador’s new bitcoin wallets could cost Western Union and similar companies $400 million a year

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by Virtuse Admin
13. September 2021
El Salvador’s new bitcoin wallets could cost Western Union and similar companies $400 million a year

Jaime García really hates using Western Union to send money home to El Salvador.

“In this day and age, it is wild that I had to go to a physical Western Union office, give them actual cash, and then hand them another $25 on top of that, before they would send my money over,” García said.

“And then, of course, it takes three days for it to actually arrive in El Salvador.”

García, who lives in the Canadian province of Saskatchewan, fled El Salvador when he was 11 after rebels bombed his house. His biggest issue with wiring cash abroad is less the inconvenience on his end and more about what happens to his loved ones receiving the money.

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