On July 22, 2025, the CEO of Western Union – Mr. Devin McGranahan – officially announced that this long-established payment group is expanding its operations into the stablecoin sector, marking a significant turning point in its 175-year development journey.

Stablecoin: Not a Threat but an Opportunity

Rather than viewing digital money as a danger, Mr. McGranahan asserts that Western Union sees stablecoins as a strategic tool, offering three major benefits:

  1. Faster Cross-Border Transfers: The use of stablecoins helps shorten the processing time for international transactions, while also reducing transfer costs.

  2. Easy conversion to local currency: Especially useful in countries with unstable or hard-to-access currency systems.

  3. Store of value for users in a volatile economy: Stablecoins provide stability for people in countries with high inflation or depreciating currencies.

In an interview with Bloomberg, Mr. McGranahan emphasized that Western Union has been innovating to improve the payment process in South America and Africa. They are currently seeking partners in the financial infrastructure sector to build on-ramps and off-ramps, allowing customers to conveniently buy, sell, and convert stablecoins.

“We have started to improve the payment process in many places around the world, especially in South America and Africa, where we are partnering with financial infrastructure companies to speed up transfers and simplify conversions to local currency.” – McGranahan shared.

Exceptional Digital Growth

Western Union currently generates $1 billion in revenue from digital transactions, with growth rates far exceeding those of traditional money transfer at retail locations. However, Mr. McGranahan believes that retail operations cannot be evaluated solely through the lens of cash transactions.

In particular, with the support of the new financial legislation from President Donald Trump – referred to as “The Big, Beautiful Bill”, users can now send money from bank accounts or credit cards more easily than ever.

“Similarly at the output, payments into bank accounts or e-wallets are growing by more than 30% in most areas.” – he added.

Global Vision: The Middle East, Asia, and Africa

Currently, 60% of Western Union's revenue comes from international markets. With this momentum, the company aims for growth in developing regions such as the Middle East, Asia, and Africa, where the demand for cross-border money transfers and safe value storage is increasing.

“We have adapted for 175 years, and stablecoins are just the next step.” – McGranahan concluded confidently.

Conclusion

Western Union – a long-standing symbol in the international payment industry – officially entering the stablecoin space indicates a profound shift in the global financial sector. No longer just the plaything of blockchain startups, stablecoins have now become a strategic choice for traditional giants as well. Western Union is proving that innovation is not just for newcomers – but is essential for those who have existed for over a century.