CEO of WePay affirms that there is not enough demand to offer services with cryptocurrencies

Bill Clerico, CEO of the WePay payment platform, recently said in an interview that user demand to enable cryptocurrency payments is not enough for companies in this niche to offer that service.

Clerico said that although the platform was acquired by JPMorgan Chase a few months ago, it remains focused on meeting the expectations of its clients and has continued to operate independently. However, the most remarkable assertion made by the CEO of the payment platform was that he explained that, WePay has not received enough requests for payments with cryptocurrencies from its customers, as to support that type of transactions.

Although the manager admits that "cryptocurrencies are very interesting", he believes that one of the reasons for the low demand for this type of payment is that no one has come up with a use case that promotes their need for adoption in a macro level.

For its part, WePay claims to have more than 1,000 business partners that use the platform to receive payments, so a hypothetical case of adoption of cryptocurrencies on its part, would greatly expand the scope of this financial instrument.

For some time now, JP Morgan has played a number of news items regarding cryptocurrencies and the blockchain ecosystem due to the contrast between some of the perspectives of its leaders. On the one hand there are the opinions of the CEO of the institution, Jamie Dimon, who defined bitcoin as "a fraud", although he later acknowledged that the technology that supports it, the blockchain, is real and tangible.

On the other hand, a more flexible perspective is observed by JP Morgan's CFO, Marianne Lake, who affirmed that the firm has "an open mind towards the potential of the future use of properly controlled and regulated digital currencies".

In addition, in the recently published Decrypting Cryptocurrencies: Technology, Application, and Challenges study, JP Morgan recognizes what could be taken as a favorable opinion about cryptocurrencies, which it says"... is unlikely to disappear. They will survive in varied forms and representations among those who want more decentralization ... ".

Venmo, along with Circle and Zelle, are applications that have gained much popularity lately, as banks have driven them as a means to accelerate interbank transfers; although it is worth noting that part of the recent boom of these applications is due to the fact that they are also used, at least in the United States, as a tool for the purchase and sale of cryptocurrencies.