#StablecoinLaw Western Union is exploring the launch of stablecoins in its digital wallets.
Western Union is preparing to enter the world of stable cryptocurrencies, in a move that reflects a strategic direction to keep pace with the digital transformation in the financial sector, following the momentum created by the new 'GENIUS' law in the United States.
In an interview with Bloomberg, Devin MacGranahan, CEO of Western Union, confirmed that the company is seriously exploring opportunities to integrate stablecoins into its digital wallets, and is currently working on partnerships that enable advanced services allowing users to buy and sell stablecoins, either within the platform or through external channels.
MacGranahan indicated that the company does not view stablecoins as a threat, but rather as an opportunity to enhance innovation, affirming that Western Union, with its 175-year history, seeks to leverage these new technologies to provide more efficient and inclusive financial solutions.
The main areas of focus for Western Union are three points:
Accelerating cross-border financial transfers.
Facilitating the conversion between stablecoins and traditional currencies.
Providing tools to protect value in markets suffering from economic volatility.
These statements come in the wake of U.S. President Donald Trump's signing of the 'GENIUS' law, which aims to federally regulate stablecoins by requiring their full backing by the dollar or other liquid assets, imposing periodic audits on major issuers, and establishing controls on foreign entities' participation in this field.
The step planned by Western Union reflects a growing awareness in the traditional financial sector of the importance of stable cryptocurrencies, especially with the increasing clarity of regulatory frameworks, paving the way for broader adoption and more practical uses in daily life.
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