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Western Union to Pilot Stablecoin Settlement System for Cross-Border Transfers

Western Union to Pilot Stablecoin Settlement System for Cross-Border Transfers

Author:

Global Cryptocurrency

Published:

2025-10-27 07:28:02

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BTCCSquare news:

Western Union revealed plans to test a stablecoin-based settlement system during its Q3 earnings call, marking a strategic pivot toward blockchain technology. The pilot aims to streamline cross-border transfers for its 150 million customers by reducing reliance on correspondent banking networks. CEO Devin McGranahan emphasized the potential for faster transactions, improved transparency, and lower costs while maintaining regulatory compliance.

The company's shift follows the passage of the GENIUS Act, which alleviated prior concerns about crypto volatility and oversight. With 70 million quarterly transfers across 200+ countries, Western Union sees particular value in stablecoins for users in high-inflation economies. The move aligns with broader industry trends as competitors like MoneyGram and Zelle explore similar integrations.

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