Western Union Invests in Stablecoins for Faster Cross-Border Payments

Western Union, a prominent global money transfer company, is exploring the use of stablecoins to streamline its cross-border payment services. The company aims to reduce processing time and cost while enhancing transparency for its 150 million customers in over 200 countries. This pilot program seeks to leverage blockchain technology’s on-chain settlement rails to minimize dependence on traditional banking networks, resulting in quicker settlements and improved capital efficiency.