Western Union now explores new digital options. The company wants to add stablecoin features to its digital wallets. It also looks into building on-ramps and off-ramps to help users buy and sell stablecoins with ease. The CEO of the firm, Devin McGranahan, confirmed this direction during a recent talk.
The firm sees this move as an upgrade, not a risk. It believes stablecoins can make cross-border payments faster. They may also make it easier for users to switch between digital tokens and real-world money. In areas where the local currency keeps losing value, people may use stablecoins to protect their money.
Stablecoins could boost Western Union’s reach
Western Union, with over 170 years of history, has adapted before. Now it turns to blockchain-based finance. The company believes stablecoins offer a fresh way to keep leading in global remittance. It also wants to serve more users who live in countries with weak banking systems.
The timing follows new U.S. rules under the GENIUS Act. This law sets up a clear path for these coins use in the country. It asks all coins to be fully backed by U.S. dollars or similar safe assets. If a stablecoin project becomes large, it must face yearly checks and follow stricter rules.
GENIUS Act brings new rules for Stablecoins
The GENIUS Act also opens the door for more U.S. oversight. Even foreign coins issuers must follow the same rules if they serve U.S. users. This gives companies like Western Union more clarity when offering such services.
Western Union wants to stay ahead. Its current plans show a real shift. It now works to link digital finance and global money transfers. With strong tech and broad reach, it could offer stablecoin tools to millions of users.
This step may change how people send and hold money across borders. If stablecoins grow in trust and reach, they might soon become a core part of how the world moves money. Western Union wants to lead that change, not follow it.
