Western Union and MoneyGram launch their own stablecoins USDPT and MGUSD
- —Western Union launched USDPT in May 2026 and a wallet with Rain
- —MoneyGram debuted MGUSD in Colombia and El Salvador, targeting Latin America
- —Monthly active app users fell 10% at Western Union and 9% at MoneyGram
- —Stablecoin payments reached $401B from January to August, up 42% year over year
Why it matters: The two largest remittance operators are adopting stablecoins to defend margins against Wise and crypto-native rivals.
Source: Bloomingbit