Western Union is preparing to integrate stablecoins into its global remittance infrastructure, marking a strategic shift toward digital assets as regulatory clarity around digital currencies continues to emerge.
In an interview with Bloomberg on July 22, CEO Devin McGranahan confirmed that the company is actively piloting stablecoin-based settlement models in South America and Africa. These tests aim to modernize cross-border transactions, particularly in regions grappling with volatile local currencies and limited access to traditional banking services.
According to McGranahan, “Stablecoins represent an opportunity, not a threat,” as he emphasized the potential to streamline foreign exchange processes and significantly reduce remittance costs. In addition to settlement trials, Western Union is exploring crypto on- and off-ramp infrastructure, with plans to launch a proprietary stablecoin wallet tailored to underserved markets.
WESTERN UNION CEO: “WE’RE INVESTIGATING HOW WE MIGHT OFFER STABLECOIN PRODUCTS IN OUR DIGITAL WALLETS TO OUR CUSTOMERS AROUND THE WORLD,” pic.twitter.com/UsFPpGN6tQ
— The Wolf Of All Streets (@scottmelker) July 22, 2025
This shift comes shortly after the signing of the GENIUS Act by U.S. President Donald Trump, which for the first time establishes a federal framework for the issuance and use of stablecoins. The legislation is already reshaping sentiment across the financial sector, with banks and fintech firms previously hesitant due to legal uncertainty now actively engaging in stablecoin strategies.
As part of its broader crypto ambitions, Western Union is focusing on wallet deployment in regions where mobile phone usage is high but access to formal banking remains low. The goal is to deliver faster, cheaper, and more accessible financial services by leveraging blockchain infrastructure.
However, the company’s pivot has drawn criticism from some lawmakers. Senator Elizabeth Warren voiced strong opposition to the growing involvement of private firms in stablecoin issuance, warning of potential privacy breaches and systemic financial risks.
Despite the political pushback, the momentum behind stablecoins appears to be accelerating. Ripple CEO Brad Garlinghouse recently told CNBC’s Squawk Box that the sector, currently valued at around $250 billion, could grow to between $1 trillion and $2 trillion in the coming years, driven by institutional adoption and regulatory clarity.
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Western Union has already begun building the network around USDPT
The stablecoin is part of a wider Digital Asset Network (DAN). The network allows licensed cryptocurrency exchanges and wallet providers to connect to Western Union’s payout infrastructure through an API.
Western Union’s 2026 investor presentation said its first Digital Asset Network partner went live in April, with more than seven partners expected to join during 2026. The company also targeted bringing USDPT to market during the second quarter.
Someone holding digital assets through a participating platform could eventually use Western Union’s network to receive cash in local currency, while traditional money-transfer users could gain access to digital-dollar products.
Bybit became the first major exchange to integrate USDPT
In June 2026, Bybit became the first major cryptocurrency exchange to integrate Western Union’s USDPT. The integration allows Bybit users to access USDPT through the exchange’s fiat channels and represents the first major exchange connection to Western Union’s Digital Asset Network.
The exchange support gives USDPT a distribution channel beyond Western Union’s own customer base. It also moves the project closer to Western Union’s stated goal of making the stablecoin available through licensed crypto exchanges.
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