#WesternUnion #stablecoin

🚨 Western Union eyes stablecoins to revolutionize remittances! 💸

CEO Devin McGranahan told Bloomberg the firm sees stablecoins as a game-changer for faster cross-border payments, better fiat conversion in tough markets, and a store-of-value for weaker currencies. 🌍

With the U.S. GENIUS Act now law, regulatory clarity is fueling adoption. Western Union is already piloting new settlement processes in South America and Africa, exploring crypto on/off-ramps, and eyeing stablecoin wallets. 🤝

Darren Wang of OwlTing Group says stablecoins cut fees below the UN’s 3% target and enable near-instant 24/7 settlements, unlike legacy systems. Regulatory moves like the GENIUS Act and Europe’s MiCA are accelerating this shift, with major players expected to wrap up pilots by late 2025. 🚀

But not everyone’s on board—Sen. Elizabeth Warren warns of risks from tech giants issuing private currencies. 😬 Meanwhile, retail giants like Walmart, Amazon, and China’s JD.com and Alipay are jumping into the stablecoin race. 🏪

Who will win? Wang bets on those who cut intermediaries and offer end-to-end payment solutions. 💡