1M
...
Western Union is embracing stablecoins as a major innovation in the financial space, as confirmed by CEO Devin McGranahan during a Bloomberg interview. The company is reshaping its infrastructure and building global partnerships to integrate stablecoin technology into its payment systems. McGranahan highlighted stablecoins as a tool to improve cross-border money transfers, convert digital assets into local currency, and offer customers a secure store of value.
The company is already rolling out new settlement processes in South America and Africa, aiming to reduce transaction times and improve currency conversion. Western Union is also working on ways to allow customers to buy and sell stablecoins using its platform. These steps mark a shift, as traditional financial firms adapt to meet the growing demand for digital asset services around the world.
Western Union is exploring digital wallet features and building partnerships with crypto infrastructure firms to bring stablecoin access to a global audience. Stablecoins are reshaping cross-border payments, offering faster and cheaper solutions compared to legacy systems.
