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Western Union is piloting stablecoin settlements for remittances in South America and Africa, signaling a strategic shift toward blockchain-based solutions. The move comes amid regulatory clarity in the U.S. and rising competition from crypto-native remittance platforms.
- Western Union’s stablecoin pilot targets FX efficiency and faster settlements in underserved markets like Africa and South America.
- The GENIUS Act’s stablecoin regulations are accelerating adoption among traditional payment providers, including Western Union.
- Competitors like MoneyGram and PayPal are already leveraging stablecoins, with MoneyGram’s USDC solution offering sub-1% fees.
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