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Western Union Pilots Stablecoin Settlement System to Modernize Remittances

Western Union Pilots Stablecoin Settlement System to Modernize Remittances

Author:

Global Cryptocurrency

Published:

2025-10-27 07:32:02

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BTCCSquare news:

Western Union is testing a stablecoin-based settlement system to enhance cross-border transactions. The initiative aims to improve speed, transparency, and cost efficiency while maintaining compliance and customer trust. CEO Devin McGranahan highlighted the potential to reduce reliance on legacy banking systems and shorten settlement windows.

The move follows the passage of the GENIUS Act, which has spurred traditional financial institutions to explore digital assets. Western Union, historically cautious about crypto due to volatility and regulatory concerns, now sees stablecoins as a viable solution for faster, cheaper remittances.

By:

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