"Stablecoin, an Opportunity to Transform Western Union Service" "Pursuing Comprehensive Service Expansion"...Ripple as a Promising Partner
Western Union, a financial service company specialized in international remittance, is set to adopt stablecoins to transform its service.
On the 22nd, in an interview with Bloomberg, Devin McGranahan, CEO of Western Union, viewed stablecoins as an opportunity rather than a threat and said that the company will succeed in innovating its international remittance through stablecoins.
He stated, "Throughout its 175-year history, Western Union has continued to innovate, and stablecoins are just another opportunity."
CEO McGranahan defined the areas of stablecoin utilization as ▲international remittance ▲exchange between fiat currency and cryptocurrency ▲value storage.
Previously, Western Union had conducted a pilot test of payment systems using stablecoins in Africa and South America. Now, the company plans to apply the stablecoin system to its entire international remittance service.
CEO McGranahan revealed that Western Union is looking for partners to adopt stablecoins. Ripple is a promising candidate. In 2015, Western Union established a partnership with Ripple.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
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