Western Union joins stablecoin race, eyes crypto partnerships: CEO
Western Union is exploring stablecoin integration for cross-border transfers, conversions and digital wallets, positioning it as an innovation opportunity.
Western Union is exploring ways to integrate stablecoins into its services as the firm seeks to modernize cross-border payments.
During a Monday interview with Bloomberg, Western Union CEO Devin McGranahan said that the company views stablecoins as an opportunity. He also said it is exploring partnerships with major crypto industry players to offer stablecoin on-ramp and off-ramp services, as well as a digital wallet.
“We see stablecoin really as an opportunity, not as a threat. […] We’re 175 years old, and we’ve been innovative across [those] 175 years. And stablecoin is just yet one more opportunity to innovate,” McGranahan said.