Western Union Pilots Stablecoin Settlement to Modernize Remittances

Western Union is entering the blockchain era with a stablecoin-based settlement pilot aimed at transforming how money moves across borders.

CEO Devin McGranahan said the pilot is designed to “leverage onchain settlement rails to reduce dependency on legacy correspondent banking systems, shorten settlement windows, and improve capital efficiency.”

The initiative could significantly enhance how Western Union’s 150 million customers in over 200 countries send and receive money, offering faster, cheaper, and more transparent transfers. McGranahan added that holding dollar-backed stablecoins could be especially valuable for users in high-inflation regions, helping preserve purchasing power.

Western Union’s move comes as the stablecoin market surpasses $300 billion and continues to gain institutional traction. Competitors like Zelle and MoneyGram are also integrating stablecoins to improve cross-border payments, signaling a new era for global money movement.

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