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Western Union Explores Stablecoins Amid Remittance Market Shifts
Western Union Explores Stablecoins Amid Remittance Market Shifts
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BTCCSquare news:
Western Union has joined the growing list of financial institutions eyeing stablecoins as a tool for cross-border payments. CEO Devin McGranahan outlined three key opportunities: accelerating settlement times, improving fiat conversion in emerging markets, and serving as a hedge against currency volatility. "We see stablecoins really as an opportunity, not as a threat," McGranahan told Bloomberg.
The move comes as regulatory clarity improves, with the recent GENIUS Act establishing a U.S. framework for stablecoins. Western Union is already piloting new settlement processes in South America and Africa, while exploring partnerships to facilitate crypto on-ramps and off-ramps.
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