STABLECOINS | Western Union to Pilot Stablecoin Settlements to Modernize Remittances, Says CEO

Western Union is piloting a stablecoin-based settlement system as part of its effort to modernize cross-border money transfers for over 150 million customers.

During the third-quarter earnings call, the Western Union CEO, Devin McGranahan, said the initiative aims to leverage blockchain settlement rails to reduce reliance on traditional correspondent banking, shorten transaction times, and improve capital efficiency.

“We see significant opportunities to move money faster, with greater transparency and lower costs, without compromising compliance or customer trust,” he noted.

 Western Union stablecoin strategy

The latest remarks come after the CEO in July 2025, said that the company is already implementing stablecoins settlement processes in Africa.

“Stablecoin is just one more opportunity to innovate,” McGranahan said at the time, pointing out three key opportunities for the 175-year-old money transfer company.

“What we see is stablecoin really as an opportunity, not as a threat.

We’re investigating how we might offer stablecoin products in our digital wallets to our customers around the world,” he said, noting these initiatives would involve partnerships with infrastructure companies.

Processing around 70 million transfers each quarter, Western Union expects blockchain technology to bring tangible benefits, particularly for customers in more than 200 countries. The pilot follows initial hesitations around crypto due to volatility, regulatory uncertainty, and consumer protection – but recent regulatory clarity from the GENIUS Act has encouraged the move.

As part Q3 2025 earnings report, the MEASA region, which includes Africa, had the largest growth YTD growth in regional revenues and transactions than any other globally, demonstrating its impact in the company’s bottom-line as well as future growth expectations and strategies, including stablecoin pilots.

Stablecoins could be particularly useful for customers in high-inflation countries, allowing them to hold U.S dollar-denominated assets that preserve purchasing power.


The adoption mirrors broader industry trends. Competitors like Zelle and MoneyGram are also integrating stablecoins for faster, more efficient cross-border transactions, signaling growing institutional acceptance of digital currencies.

The stablecoin market, recently surpassing $300 billion, is projected to reach $2 trillion by 2028, according to the U.S Treasury Department.

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