Re:El Salvador makes Bitcoin legal tender
by mumblemumble on Wednesday June 09, 2021 @11:10AM
(#27448816)
> The amount of money WU is skimming off the top must be a non-negligible percentage of the country's GDP.
20% of El Salvador's GDP is remittances, and WU takes a 5-10% cut. I don't know how much of that business WU controls, so let's pick a range out of a hat: 75%.
That would imply that WU fees represent something in the neighborhood of 1% of the country's total GDP.
20% of El Salvador's GDP is remittances, and WU takes a 5-10% cut. I don't know how much of that business WU controls, so let's pick a range out of a hat: 75%.
That would imply that WU fees represent something in the neighborhood of 1% of the country's total GDP.