I predict lots of these legacy money transfer services will adapt Jacks model (ie. use Bitcoin network / LN and just worry about controlling the end-points).
This is somewhat analogous to how originally we used PTSN copper-lines to host DSL signals to connect to internet...then eventually we inverted it and artificial "dial-tones" were played over native digital lines.
I've never really thought about it that way, but it does make sense as a standardized transport API first, and everything else second.
Sure, everyone does (things) using Bitcoin. But in order to do those things, they have to speak Bitcoin (simplifying). And once everyone speaks Bitcoin, new products can be created that target Bitcoin, that wouldn't have been feasible if everyone were using 100+ different bespoke systems.
And from its network antecedents in PTSN -> packetized layered transport in data / voice, that seems optimistic about enabling innovation.
Open banking is a much better approach to federated banking.
For a lot of markets, that isn't ever going to fly given regulatory capture.
Consequently, any standard has to also offer a compelling feature over the status quo.
Frankly, it's becoming increasingly depressing have to watch as technology is continually employed to make the world worse, usually for the benefit of making some people rich.
cryptocurrency and bitcoin are not categorically the same.