Two of the world’s biggest money movers: Zelle ($1T+ in transfers, 2,100 banks) and Western Union (500K+ outlets, 200+ countries), are going stablecoin. [RELEASE]
The goal: make transfers faster and cheaper. Zelle needs stablecoins to extend its U.S. bank network globally, while Western Union needs them to cut costs and boost margins.
The money movement industry is getting its biggest upgrade since PayPal and Stripe. Let’s unpack.
Western Union plans to use stablecoins for cross-border payments and its own treasury operations, aiming to cut fees and reduce settlement times. Zelle, backed by major U.S. banks, will use stablecoins to enable international transfers and is even considering launching its own. [NEWS]
Zooming in: Zelle’s network operator, Early Warning Services, plans to use stablecoins for international transfers and may launch its own token to expand beyond U.S. payments. The feature will be optional for any of the 2,100+ banks in the Zelle network.
Zelle also plans to issue its own bank-backed stablecoin to gain more control over compliance and liquidity, and to unlock new features like instant refunds and programmable transfers.
Meanwhile: Western Union is piloting stablecoin transfers to cut costs, speed up cross-border payments, free up capital, and boost efficiency as part of its broader move to modernize money movement (-6% Consumer Money Transfer revenue in Q2’25).
