Western Union brings stablecoins into global remittances
Hey Payments Fanatic!
Sending money abroad can still be slow and expensive. But what if you could send money through a familiar Western Union location and have it arrive as a stablecoin in someone’s digital wallet?
Western Union has selected Noah to power its new global stablecoin payments network, connecting its remittance business with on-chain infrastructure. The new Receiver Redirect service is designed to support transfers across more than 200 countries and territories and over 60 currencies.
Here’s how it works: Western Union’s USDPT stablecoin, issued by Anchorage Digital Bank on Solana, will use Noah’s infrastructure to move funds. Customers will be able to send money through Western Union’s 500,000-plus agent locations, while recipients can collect USDPT in a Western Union wallet and hold it using the company’s Stablecard.
The opportunity is massive: global remittances represent around $905 billion annually, while traditional transfers can take days and bank fees can reach 6%. The goal is to make these transfers faster and cheaper.
What makes this interesting is the combination of Western Union’s global reach and Noah’s stablecoin infrastructure. This isn’t just another crypto payment experiment, it’s a major remittance network bringing stablecoins into the way people send and receive money.
And speaking of helping people manage their finances, scroll down for a Yapily webinar on how lenders can spot financially vulnerable borrowers before they miss a payment, featuring experts from Serene, Finclusion and NatWest.
Here’s what else is happening in payments today👇
See you tomorrow!
Cheers,
INSIGHTS
💻 Yapily: Spotting Vulnerable Borrowers Before a Missed Payment
Yapily brings together experts from Serene, Finclusion and NatWest to discuss how lenders can spot early signs of financial vulnerability, support customers and meet FCA Consumer Duty expectations. The panel features Jason O’Shaughnessy (Yapily), Savanna Price (Serene), Christopher Bosworth (Finclusion) and Tom Layzell (NatWest). Register for the webinar.
📅 Tuesday, 3 November | 2 pm
NEWS
🌐 Western Union selects Noah to power its global stablecoin payments network. Noah's infrastructure will enable stablecoin transfers in over 60 currencies through Receiver Redirect. The service runs on USDPTTM, issued by Anchorage Digital Bank on Solana.
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