Western Union CEO Devin McGranahan has stated that the remittance company views stablecoins as an opportunity. | Credit: NurPhoto / Getty Images.
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Key Takeaways
Western Union CEO Devin McGranahan views stablecoins as a chance to enhance the company’s services.
Despite growing adoption, McGranahan notes that stablecoins still face practical barriers to everyday usability, such as being unable to purchase common goods.
Stablecoins present an opportunity, central to Western Union’s value proposition.
Western Union CEO Devin McGranahan has stated that the 175-year-old remittance company views stablecoins not as a threat, but as an opportunity.
In a recent interview with Bloomberg TV, McGranahan acknowledged the limitations of stablecoins in everyday transactions, while emphasizing their potential advantages for both the company and its global customer base.
According to the CEO, Western Union sees three distinct areas where stablecoins can benefit both the company and its customers.
The first is speed.
“Any time you can move money faster across borders is going to be good for Western Union and good for Western Union’s customers,” he said, underscoring how blockchain-enabled payments have sped up cross-border transactions.
Second, McGranahan highlighted the practical hurdles that stablecoins have yet to solve: everyday usability.
“Last I checked, you couldn’t spend Stablecoin if you wanted to buy a Coca-Cola,” he said.
This, he argued, opens the door for Western Union to serve as a critical bridge and convert stablecoins into fiat currencies, particularly in regions where currency conversion is difficult.
“So converting Stablecoins into fiat currencies particularly and harder to convert currencies around the world is an opportunity for us,” he noted.
Perhaps most significantly for the firm, McGranahan pointed to the utility stablecoins offer as a store of value in volatile economies.
“For many of our customers around the world, a stablecoin presents a store of value that’s tough to achieve in their country,” he said.
“So offering stablecoin as a store of value to our customers is going to be an opportunity,” he added. “What we see stablecoin really as an opportunity, not as a threat.”
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This has culminated in his administration launching regular raids at workplaces and across the U.S.
When asked about concerns that immigration crackdowns in the U.S. might hurt the business of immigrants using Western Union to send money back home, McGranahan pushed back.
“Most of my customers are employed, have been employed. They’ve already covered their basic living expenses and are in fact sending money home to loved ones in communities that they’re from,” he said.
“These customers have been in these communities for many, many years, many times. They own small businesses and they employ other people,” he continued.
“We’ve seen our business slow a bit, but the majority of our customers have been here in the U.S. for many years, are productively part of the economy and in fact are sending money home,” he added.
McGranahan also noted that Western Union remains a truly global company.
“Our business is 60% outside of the US, 40% inside of the U.S,” he added. “And the dynamics outside of the US have been more positive over the last couple of quarters than they have been inside the U.S.”
The Stablecoin Paradox
McGranahan’s comments follow a recent report from Oobit which found that while Stablecoins dominate the market in Brazil, citizens are unable to use them.
According to Oobit’s July 2025 survey of Brazilian crypto users aged 23–45, 91.8% hold stablecoins, with Tether-issued USDT used by 83%.
“Brazilian users are among the most advanced crypto participants globally,” Amram Adar, Co-Founder and CEO of Oobit said.
“They trust USDT. They’re holding stablecoins. They’re staking, trading, investing, and they’re eager to use crypto in the real world,” he added.
However, only 54.3% have ever made a crypto payment, and only 37% have used USDT in a real-world context.
This stands in stark contrast to the 85% who express a desire to use crypto for everyday purchases.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
