Western Union is considering integrating stablecoins into its digital ecosystem. In an interview with Bloomberg, CEO Devin McGranahan revealed that the payment giant is in discussions with potential partners to launch on-ramp and off-ramp services, enabling customers to buy and sell stablecoins directly through its platform.
Transition Toward Digital Assets
McGranahan noted that the company is evaluating ways to add stablecoins to its own digital wallets. This move could allow customers around the world to store assets, transfer funds, and convert digital currency into fiat within a single app.
“We view stablecoins as an opportunity, not a threat,” said McGranahan.
According to him, during its 175-year history, Western Union has repeatedly adapted to technological changes, and this current transformation is a natural continuation of that journey.
Focus on International Transfers and Capital Protection
The company’s interest in stablecoins is driven by three key factors, according to its CEO:
- they help accelerate cross-border payments,
- simplify currency conversion,
- and offer a means to preserve savings in countries with high inflation or currency instability.
Response to the GENIUS Act
Western Union’s shift toward digital currencies comes in the wake of the passage of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act), which was signed into law last week by U.S. President Donald Trump.
The new legislation creates a federal regulatory framework for stablecoins in the United States. It mandates that such tokens be fully backed by U.S. dollars or other liquid assets. It also requires annual audits for issuers with a market capitalization exceeding $50 billion, along with additional compliance obligations for foreign entities seeking to issue stablecoins within the U.S.
At the signing ceremony, Trump stated that the law would strengthen America’s dominance in global finance and digital assets.
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