Western Union CEO: Stablecoins are opportunities, not threats! It is revealed that the leading cross-border exchange is exploring stablecoin business

Recently, US President Donald Trump officially signed the "US Stablecoin Innovation and Regulation Act" (GENIUS Act), establishing a nationwide regulatory framework for US stablecoins. With the establishment of this regulatory framework, Devin McGranahan, CEO of Western Union, a global cross-border remittance leader with 175 years of history, recently revealed in an exclusive interview that the company is exploring the possibility of providing stablecoin services globally, directly stating that stablecoins are an opportunity, not a threat.

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Trump Signs GENIUS Act, Establishing a Nationwide Stablecoin Regulatory Framework for the US

Recently, US President Donald Trump officially signed the "US Stablecoin Innovation and Regulation Act" (GENIUS Act), becoming the first federal law in US history targeting stablecoins. The law establishes a nationwide regulatory framework for US stablecoins, including:

• Full reserve requirement for stablecoins: Backed by US cash, Federal Reserve account deposits, and short-term US Treasury bonds within 93 days.
• Annual audit for large issuers: Issuers with a release scale exceeding $50 billion must undergo an annual audit.
• Foreign issuance regulations: Only stablecoin issuers approved by US federal or state regulatory agencies can issue stablecoins in the United States.

(Trump Signs GENIUS Act! First US Stablecoin Regulatory Law Officially Enacted)

Global Cross-Border Remittance Leader Western Union Explores Stablecoin Development Opportunities

In an interview with Bloomberg, Western Union's CEO Devin McGranahan also stated that the company is seeking stablecoin entry and exit partnerships to facilitate customer purchases and sales of stablecoins, and is exploring how to provide stablecoin services to global users through its cryptocurrency wallet.

Devin McGranahan said: "We believe stablecoins are an opportunity, not a threat. We have 175 years of history, and throughout these 175 years, we have been innovating. Stablecoins are another opportunity for innovation."

McGranahan pointed out that Western Union sees three key opportunities in stablecoin services: enabling faster cross-border transfers, facilitating conversion between stablecoins and fiat currencies, and providing value storage for customers in volatile economies.