Last week, official entries into the implementation of the Stablecoin Law Genius Act, signed by Donald Trump in the US, mobilized majors of major corporates.
At this point, the latest news came from Western Union.
Therefore, global remittance giant Western Union is reportedly looking for a way to integrate stubcoins into their digital wallet infrastructure as stable coins are increasingly accepted in the mainstream following the passage of the Genius Act.
Western Union CEO Devin McGranahan spoke with Bloomberg and said he is exploring a partnership between both entry and exit services to enable customers to buy and sell stubcoins.
McGranahan emphasized that Western Union views it as an opportunity rather than a threat.
“We see stablecoins as an opportunity, not as a threat.
We were 175 years old and for 175 years we were innovators. And Stablecoin is another opportunity to innovate. ”
McGranahan said Western Union is seeing three important opportunities for its Stablecoin service: “It will speed up cross-border transfers, accelerate the conversion of Stablecoins and Fiat Currencies, and provide valuable storage for customers in a volatile economy.”
As you may remember, US President Donald Trump signed the Genius Act last week. Speaking at the signing ceremony, Trump said, “By signing the Genius Act, we are taking a major step towards solidifying America’s domination in global finance and cryptographic technology.”
*This is not investment advice.
