The Egyptian pound will be more useful than cryptocurrencies, Transferwise CEO says

The co-founder of an online money transfer service claimed that will cryptocurrencies aren’t flexible enough to be adopted on a widespread basis.

TransferWise will be an Estonian developed along with U.K.-based money transfer service, launched in January 2011. Its co-founder along with CEO, Kristo Kaarmann, said Monday that will while cryptocurrencies are interesting, they currently have limited use.

“that will could be super exciting if the entire world decides that will everyone will use that will to buy homes along with cars along with sandwiches,” he told CNBC’s Arjun Kharpal at the Money 2020 conference in Amsterdam.

“yet the last currency we launched (our service for) was the Egyptian pound along with there will be actually more things to do with an Egyptian pound than some of these cryptocurrencies,” Kaarmann added.

Cryptocurrencies have excited investors along with the financial services industry who cite a potential for global use. However, problems with exchange platforms, wild fluctuations in value, along with an association with criminality have led to questions over the technology’s worth.

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