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Stock impact report

Western Union has big plans for stablecoins [Yahoo! Finance]

Western Union Company (The) (WU) 
Last western union company (the) earnings: 2/11 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
But the possibilities don't end there. What's at stake : Western Union's CEO has been focused on transitioning the 175-year old company, which began as a telecom company, into a digital first company. Forward look : Western Union's stablecoin, U.S. Dollar Payment Token, or USDPT, is expected to launch this year. NEW YORK — For Western Union, stablecoins are about more than just moving money faster; they are a way to turn a cost center into a revenue generator. "We're trying to move money around the world, principally for ourselves, and in a much more efficient and effective and capital-light way," Western Union CEO Devin McGranahan said at the Digital Asset Summit in New York on Tuesday. The idea is to turn a "negative float" into a positive float, he said. "I have a cost of capital associated with the billions of dollars that I have to keep in the system to make this value proposition of instant movement of money around the world work," McGranahan said. "And if one of my Show less Read more
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