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Xoom’s CEO Kunze Chats Bitcoin, Mobile Apps, and More

It’s a hot-button topic, to be sure, but for money transfer powerhouse Xoom, the use of bitcoin just might be something that eventually comes into play. That’s what Xoom CEO John Kunze said in a revealing interview with PYMNTS.com’s CEO Karen Webster. You can check out the story for yourself, and also click on the accompanying audio link.

Everyone knows that Xoom occupies a pivotal position in the global money transfer business, but many may not know that the bitcoin currency opportunity could have a place in how money is moved.

Or not. There’s a long way to go, Kunze said in the interview.

“I think anyone that wants to move money from point A to point B has to deal with . . . very important challenges that, for bitcoin to succeed, players in the ecosystem must also solve in addition to still being efficient and not costly.”

Kunze mentioned self-regulation, consumer protection and regulation as challenges for bitcoin to become part of the money transfer business.

Xoom’s chief pointed out that typically $500 billion in money transfers crosses borders each year, and he also touched on Xoom’s groundbreaking mobile app that’s making a lot of headway.

“More than half of our users are sending with our mobile app, which was a great milestone that we hit,” Kunze said in the interview.

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