Western Union is exploring the stablecoin domain and plans to launch its own stablecoin product.
2 reports, 1 independent
Updated Aug 19
Gone quiet
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- 2
- Developments
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- Repetition
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New informationRepeats or wire copies
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What happened
Western Union is exploring the stablecoin domain and plans to launch its own stablecoin product.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Western Union is exploring the stablecoin domain and plans to launch its own stablecoin product.Sub-event
WU is entering the stablecoin market alongside Circle, adding to the market growth predicted by major firms like Goldman Sachs.1 source
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The entities involved
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Western Union
American financial services and communications company
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Circle
peer-to-peer payments technology company
- Coinbase operates as a leading regulated crypto exchange, utilizing its Base Layer-2 network built on Ethereum, and shares revenue with Circle in the USDC ecosystem.
- Hana Bank is participating in a settlement network trial involving the Bank of Korea, while Binance announces a $100M investment to promote Circle's USDC.
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Bitcoin
digital cash system and associated currency
Related events
- Banks are launching stablecoin initiatives as a competitive strategy to counteract the growing market share of non-bank financial competitors.
- Mastercard is piloting stablecoin transfers using the Crypto Credential framework, while Western Union has launched a Visa-branded card that utilizes stablecoins.
- Bank of America, Wells Fargo, Santander Group, Ark Invest, and Bitcoin are exploring stablecoin ventures as part of a new group.
- Strategy holds USD cash to buy Bitcoin, while STRIVE is cited as a competitor, and the Bankchain Alliance aims to foster stablecoins.
Coverage
Newest first; wire copies grouped- BarchartWestern Union Wants to Launch Its Own Stablecoin. Does That Make WU Stock a Buy Here? As a new rush to adopt new cutting-edge technologies across a range of industries sweeps the business world, the
- Unknown outlet