Report Says Western Union Could Lose $400M if El Salvador’s Chivo Bitcoin Wallet Gains Traction, Tim Berners-Lee Weighs In
The Republic of El Salvador has made many headlines this week as the country adopted bitcoin as legal tender on Tuesday and became the first-known nation-state to purchase the leading crypto asset. A recent report details that remittance providers like Moneygram and Western Union could lose up to $400 million annually if the Chivo wallet is used more. Furthermore, the creator of the world wide web, Tim Berners-Lee has written an opinion piece about why Salvadoran president Nayib Bukele announced the bitcoin tender law at the Miami bitcoin conference. Chivo Wallet Could Hurt Remittance Giants Like Moneygram and Western Union, Says Report Ever since El Salvador adopted bitcoin ( BTC ) as legal currency on September 7, 2021, the country has continued to be a topic of discussion. Bitcoin.com News has reported on the many developments in El Salvador from ‘ Bitcoin Beach ’ to the ‘30for30’ trend that took place this week. Moreover, the country started buying mass quantities of bitcoin (...