Western Union is taking a major step toward blockchain integration with the launch of a stablecoin-based settlement pilot, designed to streamline cross-border payments and reduce reliance on traditional banking infrastructure.
The initiative was announced by CEO Devin McGranahan during the company’s Q3 2025 earnings call on October 23.
According to McGranahan, the pilot aims to enhance settlement speed, reduce costs, and boost transparency for Western Union’s vast remittance network, which serves over 150 million customers in more than 200 countries.
Western Union revealed in its Q3 earnings call that it will launch a stablecoin settlement pilot to reduce reliance on traditional correspondent banks and improve efficiency via on-chain networks. The company processes around 70 million transfers each quarter across 200+…
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By leveraging onchain settlement rails, the company expects to improve capital efficiency while offering real-time transaction tracking.
The move follows the passage of the GENIUS Act, a landmark U.S. regulation that clarified the legal framework for stablecoin issuance and use. Western Union noted that the act resolved many of its prior concerns surrounding stablecoin volatility, regulatory uncertainty, and customer protection, paving the way for the company’s entry into digital asset payments.
McGranahan highlighted that the new system will give customers more choice and control, particularly in countries struggling with high inflation or volatile local currencies. Users will soon have the option to hold or transact in stable, dollar-pegged assets, offering a safer and faster remittance alternative to traditional fiat transfers.
Looking ahead, Western Union is exploring regional partnerships to enable stablecoin on-ramps and off-ramps, as well as the possible integration of stablecoin products within its digital wallet ecosystem.
This pilot marks one of the most significant moves yet by a global remittance leader toward blockchain adoption, signaling that the future of cross-border money transfers may soon run on stablecoin rails rather than legacy banking networks.