Egyptian Pound More Useful than Cryptos, says TransferWise CEO

Egyptian Pound Crypto

The ongoing Money 2020 conference being held in Amsterdam until today, June 6, proves to be full of revelations regarding sentiments of leading crypto authorities on the potential of cryptocurrencies and additional developments they hope to implement in the near future.

One of these is TransferWise CEO Kristo Kaarmann’s comparison of traditional currencies’ worth to cryptos. In an interview, Kaarmann shared his qualms on cryptocurrencies despite the growing acceptance of such. As if to state the obvious, he said that more could be done with even the Egyptian Pound, the latest addition to the currencies they cater to than even the leading cryptocurrencies.

“It would be super exciting if the world decides that everyone will use it to buy homes and cars and sandwiches,” Kaarmann said. But the crypto community is aware that what Kaarman hopes will take time and tremendous efforts just to come true.

Since its birth, TransferWise has proved to become a very efficient money-sending platform due to costs that it rids the sender of, compared to other means, say for example a bank-to-bank transfer. Founded in 2011, TransferWise now has a splendid reputation, averaging $2.3 bln fund transfers every month. Kaarmann aims to maintain their momentum, if not exceed the current average.

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