Oh, no. Brace yourselves, everyone, because Western Union – that granddaddy of money movers – is trotting out its newfangled plan: stablecoin-powered transfers. And, darling, they think it’s a game-changer for their 150 million customers!
During their latest earnings call (which is to say, more boardroom scuttlebutt), CEO Devin McGranahan, who probably refers to himself as the “gatekeeper of fortune,” explained how this pilot project is going to revolutionize the entire remittance business. Apparently, they’re keen on “leveraging onchain settlement rails,” a fancy way of saying they want to shrug off the help of those bothersome old-fashioned banking systems. Go, modernize!
“We see significant opportunities for us to be able to move money faster with greater transparency and at lower cost without compromising compliance or customer trust.”
Hold onto your hats, because Western Union processes about 70 million transfers every three months. The blockchain saviors have offered us a shot at “significant advantages,” zip-zapping money across 200 countries without making your bank statement look like a Picasso painting.
Just three months after dropping a hint that they might actually like crypto (shocking, right?), the GENIUS Act (which, by the way, might as well be named after them) has flipped the switch on their reluctance to deal with the volatility and regulatory red tape.
And let’s not forget, stablecoins aren’t just Western Union’s latest trend, oh no! The whole stablecoin market is heralded as the next financial big thing, ballooning to over $300 billion and supposedly climbing to a staggering $2 trillion by 2028. Yay for numbers!
Stablecoins Could Help Those Facing Frenzied Inflation
With all this techy innovation, Western Union assures its customers they’ll have more power and choice (like choosing between bottled water brands, but with money). Especially those battling inflation-who ever heard of such a thing? Those innovations are, apparently, a shining beacon of hope, according to the company.
“In many parts of the world, being able to hold a US dollar-denominated asset has real value as inflation and currency devaluation can rapidly erode an individual’s purchasing power. These innovations align closely with our broader strategy to modernize the movement of money.”
Western Union Isn’t Alone in This Journey
Oh, and it’s not just Western Union getting in on the action. Their friends over at Early Warning Services are jumping on the stablecoin train with their Zelle platform. And MoneyGram? They’re hitting the Colombia clubs with their shiny new crypto app that lets folks hoard the USDC stablecoin, carefree as a college student late for class.
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2025-10-27 03:33