Western Union plans to integrate stablecoins into its digital wallet products

PANews reported on July 22 that according to Cryptobriefing, Devin McGranahan, CEO of Western Union, said in an interview with Bloomberg's "The Close" column on Monday that Western Union sees stablecoins as an opportunity and the company is actively adjusting its infrastructure and expanding partnerships to integrate related technologies into its global payment network. McGranahan pointed out that Western Union, which has a 175-year history, faces three key opportunities: fast cross-border remittances, stablecoin and fiat currency exchange, and providing customers with value storage tools. He added: "We believe that stablecoins are indeed an opportunity, not a threat." McGranahan revealed that the company has tested new settlement systems in South America and Africa to speed up the remittance process, while exploring the provision of stablecoin services in its digital wallets through cooperation.