Western Union Finally Enters Crypto, Set to Support Stablecoins Globally!

Jakarta, Pintu News – After more than 175 years of dominating the global remittance market, Western Union is finally taking a big step into the world of cryptocurrency. The US giant announced plans to integrate stablecoins into their global payment system.

The move comes in response to declining revenue and increasing pressure from crypto-based financial technology.

With this integration, Western Union hopes to become relevant and competitive in the cross-border payments revolution, which is now faster and cheaper thanks to stablecoins.

Western Union ready to support the purchase and sale of stablecoins

Western Union CEO Devin McGranahan stated in an interview with Bloomberg that the company is exploring the integration of stablecoins into their global platform. Not only as a means of payment, stablecoins will also be available for customers to buy and sell directly through the Western Union ecosystem. He called stablecoins an opportunity, not a threat.

The company also plans to partner with various crypto platforms to provide on-ramp and off-ramp access in various regions, including South America and Africa. Western Union sees the potential of stablecoins to speed up remittances and local currency conversions.

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Traditional Remittances Under Pressure, WUs Must Adapt

Recent data shows that Western Union’s dominance in the remittance market is being displaced by digital services. In the first quarter report of 2025, the company’s revenue fell 6% to $984 million or around Rp15.97 trillion.

This decline is in line with data from VanEck which revealed that Western Union app downloads fell 22%, while competitors such as MoneyGram fell 27%. This signals that the era of traditional remittances is undergoing a major disruption.

Meanwhile, new platforms such as Wise and Remitly offer services that are more efficient, cheaper, and fit the needs of the digital generation. Wise excels in terms of cost due to its cross-border liquidity, while Remitly reaches areas underserved by banks and digital wallets.

Read also: Fragbite Buys Rp7.8 Billion in Bitcoin, European Company Officially Enters the Crypto World

Stablecoins are the Remittance Solution of the Future

Stablecoins like USD Coin (USDC) offer speed, low fees, and stability, making them an attractive alternative for cross-border remittances. Some companies have even adopted stablecoins for remittances first.

For example, MoneyGram is launching MoneyGram Wallet in 2024, which enables remittances in USDC and cash pick-up in more than 180 countries. Western Union is now one step behind, but still has great opportunities thanks to its scale and network.

Western Union is also leveraging KYC technology and integrations with partners like Stellar to accelerate stablecoin adoption in strategic regions. Some crypto watchers like Liz Bazurto of MetaMask have even predicted this move long ago.

According to him, remittance giants like WU and MoneyGram have no choice but to support stablecoins to remain competitive. Moreover, according to data from DefiLlama, the market capitalization of stablecoins has now reached $262 billion (equivalent to Rp4,256 trillion), showing significant growth and adoption globally.

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Reference:

• BeInCrypto. Western Union Joins the Stablecoin Race as Legacy Payments Face Disruption. Accessed July 24, 2025
• Featured Image: Crypto Rank