The well-established company, which has been serving cross-border payments for nearly 200 years, now faces the risk of becoming redundant. Western Union established its first line and started providing service in 1861. But in recent years of cryptocurrencies As it has become widespread, the company’s cross-border transfer services have become extremely meaningless. The company that has to solve this and survive takes action.
Western Union Stablecoin
USDPT They will launch their own stablecoin, which will have the abbreviation, by June next year. For this, they will use the Solana network and Anchorage will be their partner on the crypto side. Customers will be able to withdraw their payments instantly from Western Union centers and carry out their transactions faster.
Substantially Western Union It is still unnecessary because it takes a few seconds to withdraw a stablecoin to your crypto wallet, exchange it on the stock exchange and withdraw it to your bank account. Perhaps Western Union’s new service may be in demand for those who want to access cash directly.
The company established the first telegraph line in 1861 and became the world’s largest payment and transfer center. But things have changed. Devin McGranaha, CEO and President of the company, said;
“We have come a long way from the telegraph, but the idea of connecting people and using technology to do so has been deep in our roots for 175 years.
“The move to crypto assets and stablecoins is just the next chapter in the long journey of connecting people through technology.”
