Western Union to Pilot Stablecoin Settlement System for Global Remittances

Western Union is launching a pilot program for a stablecoin-based settlement system to modernize global remittances. The initiative was announced during its third-quarter earnings call on Thursday, with CEO Devin McGranahan highlighting potential improvements in speed, cost, and transparency. The move follows growing regulatory clarity, including the recent passage of the GENIUS Act. Stablecoins are increasingly seen as a tool for cross-border payments, with the market exceeding $300 billion in April 2025.