Western Union CEO Devin McGranahan said the remittance company is exploring issuing a stablecoin, particularly in non-US markets. He told Bloomberg that the company is interested in offering stablecoin balances in those countries “almost like a savings account.” This is mirrors the stablecoin accounts recently launched by Stripe.

During another interview a few weeks ago, McGranahan said that stablecoins represent an opportunity rather than a threat. He cited this savings use case, plus the ability to move money internationally faster. Additionally, he highlighted that the company is extremely well placed as an on and off-ramp.

This on/off-ramp capability is particularly valuable, with Capstone suggesting that stablecoin issuer Circle could be rather interested in this. Circle recently launched the Circle Payments Network to partner with various companies to provide on and off-ramps. As an acquisition target, Circle could probably afford to buy Western Union, given its market capitalization is around $40 billion compared to Western Union’s $2.75 billion.

When asked, McGranahan said “If someone came and offered us the appropriate value that we believe the company is worth, we obviously would entertain that.” Western Union could indeed become an takeover target. However, a quick analysis highlights why Western Union may not be a priority for Circle, but could be for someone else.

Article continues …

Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.