Money Giant Embraces Crypto for Faster, Cheaper Cross-Border Payments

Western Union has announced a pilot program to test stablecoin-powered remittances, marking its entry into blockchain-based money transfers. The initiative aims to modernize its settlement system for over 150 million customers across more than 200 countries.

Source Cointelegraph

CEO Devin McGranahan said the company sees “significant opportunities to move money faster, with greater transparency and lower costs, without compromising compliance or trust.” The blockchain-based settlement is expected to reduce reliance on traditional correspondent banks and improve operational efficiency.

Western Union noted that integrating stablecoins could benefit users in high-inflation economies, helping them preserve value and send money more efficiently. The move reflects the broader institutional adoption of stablecoins, with the market already exceeding $300 billion and projected to hit $2 trillion by 2028.