Western Union to Pilot Stablecoin Transfers
Western Union, a leading remittance giant, is modernizing its global operations by piloting stablecoin-based settlement systems.
The company's CEO, Devin McGranahan, announced this during the Q3 earnings call, stating that the initiative aims to streamline international money transfers and improve liquidity management.
The recent passage of the GENIUS Act has clarified federal rules for stablecoin issuance and usage.
This new framework gives traditional payment companies more confidence to adopt blockchain-based solutions, shifting Western Union's previously cautious stance toward cryptocurrencies.
Author's summary: Western Union pilots stablecoin transfers.
- Improved regulatory environment in the US
- Streamlined international money transfers
- Enhanced liquidity management