Western Union Enables Remittance Payouts in Stablecoin
Western Union now allows remittance recipients to receive payments in its proprietary stablecoin, according to Startup Fortune.
Money transfer giant Western Union has introduced a feature allowing remittance recipients to get paid in its own stablecoin, according to Startup Fortune.
The update integrates the company's proprietary digital currency directly into its payout infrastructure for cross-border money transfers, marking a notable step into stablecoin utility by a traditional financial institution.
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Remittance Integration
The integration enables users receiving funds globally to opt for settlement in the firm's stablecoin rather than traditional fiat currencies, according to the report.
Key facts
- Western Union now allows remittance recipients to get paid in its own stablecoin.
- The rollout expands the utility of the company's proprietary digital currency within its payment rails.
Source: news.google.com
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