Western Union has become the latest financial giant that indicates interest in Stablecoins, because the competition is warming up in the global remittance market and improves the clarity of the regulations.
Spend against Bloomberg On Tuesday, CEO Devin Mcgranahan said that the company saw three possibilities for the use of Stablecoin around faster cross-border payments, better Fiat-conversion options in more difficult markets, and offering a national product product for customers with weaker currencies.
“We really see Stablecoins as an opportunity, not as a threat,” he said.
Mcgranahan’s comments follow an increase in interest in stablecoins in the financial sector when the clarity of the regulations emerges.
Last week, President Donald Trump signed The brilliant law in the law, setting up a formal US framework for the publishing and acting of stablecoins.
The relocation is expected to accelerate acceptance by banks, retailers and traditional financial players, many of whom have recently shown interest to enter the space.
Western Union is already running pilots for new settlement processes in regions such as South America and Africa, said Mcgranahan, and works together with infrastructure companies to improve the conversion of the foreign exchange and the speed of the settlement.
The company also investigates partnerships to act as an online and off-disaster for crypto in certain areas of law and is considering the range of Stablecoin portion.
“It is exciting to see that industrial giants such as Western Union explore Stablecoins, and it is easy to see why,” said Darren Wang, founder and CEO at Taiwanese blockchain technology company Owlting Group, said Decrypt.
“Stablecoins offer a faster, cheaper and more flexible alternative to traditional banking systems,” he said.
A larger cost
Owlting, which cooperates with Western Union competitor Moneygram on Stablecoin projects, has seen “double-digit monthly studies” of companies that have been interested in the use of Stablecoins, according to Wang.
He pointed out that part of their profession is because the average worldwide transfer costs are still at 6.6%.
In the meantime, Stablecoins can lower the costs far below the purpose of 3% of the UN by cutting intermediaries and FX markings. Neder settlements are usually almost instant and work 24/7, in contrast to legacy systems.
“Regular clarity, such as the US Genius Act and Europe’s Mica, accelerates this movement,” Wang added. “I would expect large players to close exploration or pilots at the end of 2025, with widespread adoption in 2026 as compliance frameworks and technical integrations such as APIs and treasury workflows grow up.”
Despite the momentum, some remain skeptical.
In the US, Senator Elizabeth Warren earlier warned That allowing the brilliant action to succeed can open the door for technical billionaires to spend private exchange.
“If the congress does not solve it, billionaires such as Elon Musk, Jeff Bezos and Mark Zuckerberg could launch Stablecoins who follow your purchases, exploit your data and squeeze out competitors,” she warned. “Then they will beg for a rescue operation if it inevitably inflates.”
Her comments not only followed announcements from banks about exploring Stablecoins, but retail giants such as Walmart and Amazon. Further away are Chinese giants JD.com and Alipay pursue Regulatory approvals for the STABLECOIN offer in international markets.
Although some courses still provide challenges in terms of infrastructure and conversion costs, Wang also noticed on the growing admission between SMEs and migrant employee platforms, in particular for payments in Africa, where transparency and speed often exceed traditional banks.
“I think the future winner will be the one who eliminates [as many] Intermediaries possible and offers a total solution within the payment ecosystem, “he said.
Daily debrief Newsletter
Start every day with the top news stories at the moment, plus original functions, a podcast, videos and more.
