Highlights: Western Union is testing blockchain settlement rails to speed up transfers. Western Union has launched the stablecoin pilot after the GENIUS Act cleared the path for safer digital transactions. Global payment firms are adopting stablecoins to improve efficiency and lower cross-border transfer costs for customers. Western Union has started testing blockchain settlement systems to speed up international transfers and lower transaction costs. CEO Devin McGranahan said the pilot aims to make payments faster and more efficient while maintaining customer trust. He explained that the company plans to reduce its reliance on traditional correspondent banking systems and improve capital use. JUST IN: Western Union to pilot stablecoin-powered transfers for its customers across 200+ countries. pic.twitter.com/cHJtFdYX1i — DNX | Rava (@dnxtrades) October 27, 2025 The financial services firm processes around 70 million transfers every quarter for more than 150 million customers. It operates across over 200 countries, giving it a large base to test digital payment solutions. The new pilot could make money transfers more transparent and affordable, especially in regions where access to financial services remains limited. McGranahan said the company sees opportunities to move money faster with better transparency and lower costs without reducing compliance standards. The pilot also reflects Western Union’s efforts to modernize its entire network and provide more efficient cross-border transfers. The company first revealed its interest in stablecoin use for remittances about three months ago. Western Union Launches Stablecoin Pilot After Passage of GENIUS Act Western Union decided to launch its stablecoin pilot after the passage of the GENIUS Act, which provided clearer rules for digital assets. McGranahan said the law created a more secure environment for stablecoin integration and helped reduce earlier concerns about volatility and unclear compliance standards. He added that the goal is to enhance efficiency, improve transparency, and lower transaction costs for customers worldwide. He also emphasized that the pilot focuses on utility rather than speculation. “This is not about speculation. It is about giving our customers more choice and control in how they manage and move their money,” McGranahan said. Western Union plans to expand these capabilities in its payment network and explore partnerships that support stablecoin usage in daily transactions. Stablecoins have become more appealing to payment firms that want to reduce settlement delays. The U.S. Treasury Department reported in April that the stablecoin market has grown beyond $300 billion and could reach $2 trillion by 2028. Western Union believes the use of dollar-backed stablecoins will give customers in high-inflation countries more stability in managing their funds. McGranahan explained that ownership of U.S. dollar-denominated assets will give people in areas that suffer due to inflation and currency devaluation real value. The company intends to make cross-border transactions easier and quicker without compromising on compliance and security. These initiatives coincide with the wider digital transformation agenda of Western Union. Competitors Expand Blockchain Use as Stablecoin Adoption Grows The move by Western Union is in line with competitors intensifying their blockchain efforts. Zelle’s parent company, Early Warning Services, announced plans to add stablecoins for cross-border transfers. MoneyGram also said it would launch a USDC-based app in Colombia to help customers send and receive funds quickly. LATEST: ZELLE IS EXPLORING STABLECOINS FOR GLOBAL TRANSFERS! pic.twitter.com/O8xNQOg7nz — DeFi Scope (@DeFi_Scope) October 24, 2025 Major banks are joining the trend as well. Citigroup recently confirmed that it is exploring the creation of a Citi stablecoin for corporate clients. Earlier this year, JPMorgan launched institutional blockchain payment deposit tokens. These actions indicate a rising interest in blockchain payments by prominent financial entities. The pilot program of Western Union stablecoin consolidates its role in a competitive market. The firm has a head start in the transition to blockchain-enabled transfers because of its robust network and the growth of its digital wallets in multiple countries. McGranahan said the company will share more details about its digital asset strategy at its upcoming Investor Day on November 6. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Highlights: Western Union is testing blockchain settlement rails to speed up transfers. Western Union has launched the stablecoin pilot after the GENIUS Act cleared the path for safer digital transactions. Global payment firms are adopting stablecoins to improve efficiency and lower cross-border transfer costs for customers. Western Union has started testing blockchain settlement systems to speed up international transfers and lower transaction costs. CEO Devin McGranahan said the pilot aims to make payments faster and more efficient while maintaining customer trust. He explained that the company plans to reduce its reliance on traditional correspondent banking systems and improve capital use. JUST IN: Western Union to pilot stablecoin-powered transfers for its customers across 200+ countries. pic.twitter.com/cHJtFdYX1i — DNX | Rava (@dnxtrades) October 27, 2025 The financial services firm processes around 70 million transfers every quarter for more than 150 million customers. It operates across over 200 countries, giving it a large base to test digital payment solutions. The new pilot could make money transfers more transparent and affordable, especially in regions where access to financial services remains limited. McGranahan said the company sees opportunities to move money faster with better transparency and lower costs without reducing compliance standards. The pilot also reflects Western Union’s efforts to modernize its entire network and provide more efficient cross-border transfers. The company first revealed its interest in stablecoin use for remittances about three months ago. Western Union Launches Stablecoin Pilot After Passage of GENIUS Act Western Union decided to launch its stablecoin pilot after the passage of the GENIUS Act, which provided clearer rules for digital assets. McGranahan said the law created a more secure environment for stablecoin integration and helped reduce earlier concerns about volatility and unclear compliance standards. He added that the goal is to enhance efficiency, improve transparency, and lower transaction costs for customers worldwide. He also emphasized that the pilot focuses on utility rather than speculation. “This is not about speculation. It is about giving our customers more choice and control in how they manage and move their money,” McGranahan said. Western Union plans to expand these capabilities in its payment network and explore partnerships that support stablecoin usage in daily transactions. Stablecoins have become more appealing to payment firms that want to reduce settlement delays. The U.S. Treasury Department reported in April that the stablecoin market has grown beyond $300 billion and could reach $2 trillion by 2028. Western Union believes the use of dollar-backed stablecoins will give customers in high-inflation countries more stability in managing their funds. McGranahan explained that ownership of U.S. dollar-denominated assets will give people in areas that suffer due to inflation and currency devaluation real value. The company intends to make cross-border transactions easier and quicker without compromising on compliance and security. These initiatives coincide with the wider digital transformation agenda of Western Union. Competitors Expand Blockchain Use as Stablecoin Adoption Grows The move by Western Union is in line with competitors intensifying their blockchain efforts. Zelle’s parent company, Early Warning Services, announced plans to add stablecoins for cross-border transfers. MoneyGram also said it would launch a USDC-based app in Colombia to help customers send and receive funds quickly. LATEST: ZELLE IS EXPLORING STABLECOINS FOR GLOBAL TRANSFERS! pic.twitter.com/O8xNQOg7nz — DeFi Scope (@DeFi_Scope) October 24, 2025 Major banks are joining the trend as well. Citigroup recently confirmed that it is exploring the creation of a Citi stablecoin for corporate clients. Earlier this year, JPMorgan launched institutional blockchain payment deposit tokens. These actions indicate a rising interest in blockchain payments by prominent financial entities. The pilot program of Western Union stablecoin consolidates its role in a competitive market. The firm has a head start in the transition to blockchain-enabled transfers because of its robust network and the growth of its digital wallets in multiple countries. McGranahan said the company will share more details about its digital asset strategy at its upcoming Investor Day on November 6. eToro Platform Best Crypto Exchange Over 90 top cryptos to trade Regulated by top-tier entities User-friendly trading app 30+ million users 9.9 Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more