Western Union CEO Devin McGranahan said the company will focus on expanding adoption and embedding digital assets into its core money movement platform going forward.
Financial services giant Western Union is targeting May for the rollout of its new stablecoin as part of a crypto plan that includes its digital asset network and US dollar stable card.
“Over the last few months, we’ve crossed an important threshold. It is no longer a question of if Western Union will be active in digital assets, it is now how fast can we scale,” said Western Union president and CEO Devin McGranahan during the company’s first-quarter earnings call on Friday.
“At the foundation of our strategy is USDPT, our US dollar-backed stablecoin. USDPT is now in its final stages of readiness and is expected to go live next month,” he added.
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