😎Western Union🇺🇸 bets on stablecoins to launch its own wallet and crypto-fiat conversion

😎Western Union🇺🇸 bets on stablecoins to launch its own wallet and crypto-fiat conversion

Efficiency is everything❗️Especially when a key competitor has already moved ahead.

▶️Western Union is already testing new stablecoin-based settlement methods in Africa and South America, aligning with its innovation roadmap.
Source

▶️This is not the company’s first move in crypto. In October 2022, it filed trademarks for three crypto-related products. Back in 2015, it also partnered with Ripple to facilitate remittance settlements — although that effort never moved beyond the testing phase.

▶️Now the aim is to reduce transaction times by leveraging crypto assets in regulated environments and cutting out intermediaries.

▶️User benefit: value preservation in volatile economies and an alternative to unstable local currencies.

▶️Context: the resurgence of interest in stablecoins among payment providers is tied to regulatory progress in the **U.S.**🇺🇸. Just weeks ago, the GENIUS Act was signed into law, establishing a national licensing system for stablecoin issuers.
Official announcement

#news #USA #crypto

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