Western Union explores stablecoin adoption for cross-border payments

Western Union is exploring the integration of stablecoins into its digital offerings, responding to the growing adoption of these assets in global payments. CEO Devin McGranahan stated in a Bloomberg interview that the company views stablecoins as a technological opportunity.

The 175-year-old money transfer provider is modernizing its infrastructure and exploring partnerships to allow users to buy and sell stablecoins. Key priorities include fast cross-border transfers, converting stablecoins into fiat currencies, and offering a stable store of value.

Western Union has already begun implementing new settlement processes in South America and Africa, aiming to accelerate money transfers and currency conversions.

Additionally, the company is evaluating collaborations with infrastructure providers to integrate these functionalities into its digital wallets. McGranahan emphasized that these initiatives are part of a broader strategy to adapt to the rapidly evolving global payments landscape.