[Western Union Pilots Stablecoin Settlement System to Optimize Global Remittance Services] Financial services giant Western Union has announced a pilot program for a stablecoin-based settlement system to enhance the efficiency and modernization of its global remittance business. Western Union CEO Devin McGranahan stated during the company's third-quarter earnings call that the pilot project aims to leverage blockchain technology to optimize settlement processes, reduce reliance on traditional correspondent banking systems, shorten settlement cycles, and improve capital efficiency. McGranahan revealed that although the company had previously taken a cautious stance on cryptocurrencies due to their volatility, regulatory uncertainties, and customer protection concerns, the passage of the 'GENIUS Act' has prompted a reassessment of this space. Western Union noted that the stablecoin service will provide customers with more flexible options for fund management and transfers, which could bring significant improvements, particularly for users living in high-inflation countries.