Western Union Plans Stablecoin Integration to Enhance Payments
The post Western Union Plans Stablecoin Integration to Enhance Payments appeared on BitcoinEthereumNews.com. Western Union has decided that if you can’t beat them, join them, as reports indicate the 175-year-old money transfer company is adopting stablecoins. Stablecoin-fiat conversions remain a hot topic, with the former’s edge bordering on speed and liquidity. Western Union Responds to Stablecoin Surge with Digital Wallet Integration Plans Western Union CEO Devin McGranahan appeared during a Monday interview with Bloomberg’s The Close. He said the firm is planning to integrate stablecoins into its global payment systems. McGranahan also revealed the company’s plans to explore collaborations so that customers can ultimately buy and sell stablecoins through its platform. “Stablecoin is just one more opportunity to innovate…We are also exploring other partnerships with people who want on ramps and off ramps in different parts of the world and how we could enable Western Union’s funds in and funds out to enable people to purchase and sell stablecoins,” McGranahan said in the interview. They are reportedly already implementing new settlement processes across South America and Africa. According to McGranahan, their goal is to facilitate faster money transfers and local currency conversions. The Western Union executive also highlighted three key opportunities for the company, citing fast cross-border money movement, converting stablecoins to fiat currencies, and providing customers with a stable store of value. “What we see is stablecoin really as an opportunity, not as a threat,” he added. The shift in sentiment comes as stablecoins progressively pressure legacy remittance and cross-border payment companies. Head of Digital Assets Research at VanEck, Matthew Sigel, revealed in a January post on X (Twitter) that downloads of remittance giant apps dropped significantly. He indicated Western Union with a 22% decline and MoneyGram seeing a 27% reduction. Past quarter reports accentuate the outlook, showing declining revenues amid growing competition. “The Company’s first-quarter revenue of $984 million decreased…
The post Western Union Plans Stablecoin Integration to Enhance Payments appeared on BitcoinEthereumNews.com.
Western Union has decided that if you can’t beat them, join them, as reports indicate the 175-year-old money transfer company is adopting stablecoins. Stablecoin-fiat conversions remain a hot topic, with the former’s edge bordering on speed and liquidity. Western Union Responds to Stablecoin Surge with Digital Wallet Integration Plans Western Union CEO Devin McGranahan appeared during a Monday interview with Bloomberg’s The Close. He said the firm is planning to integrate stablecoins into its global payment systems. McGranahan also revealed the company’s plans to explore collaborations so that customers can ultimately buy and sell stablecoins through its platform. “Stablecoin is just one more opportunity to innovate…We are also exploring other partnerships with people who want on ramps and off ramps in different parts of the world and how we could enable Western Union’s funds in and funds out to enable people to purchase and sell stablecoins,” McGranahan said in the interview. They are reportedly already implementing new settlement processes across South America and Africa. According to McGranahan, their goal is to facilitate faster money transfers and local currency conversions. The Western Union executive also highlighted three key opportunities for the company, citing fast cross-border money movement, converting stablecoins to fiat currencies, and providing customers with a stable store of value. “What we see is stablecoin really as an opportunity, not as a threat,” he added. The shift in sentiment comes as stablecoins progressively pressure legacy remittance and cross-border payment companies. Head of Digital Assets Research at VanEck, Matthew Sigel, revealed in a January post on X (Twitter) that downloads of remittance giant apps dropped significantly. He indicated Western Union with a 22% decline and MoneyGram seeing a 27% reduction. Past quarter reports accentuate the outlook, showing declining revenues amid growing competition. “The Company’s first-quarter revenue of $984 million decreased…
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