During the first quarter, the company’s GAAP revenue was flat year over year while its adjusted revenue was down 1%, according to a Friday (April 24) earnings release.

Western Union attributed these results to macro pressure in its Americas retail business.

“As you know, remittances in the Americas have faced meaningful pressure that began early last year and continued through this winter, particularly across our key U.S. to Latin American corridors,” Western Union President and CEO Devin McGranahan said during a Friday earnings call. “We saw meaningful declines to markets like Mexico, Ecuador and Guatemala, driven by a combination of migration dynamics and U.S. immigration policy.”

Looking ahead, the company expects to see gains from its recent and pending acquisitions and its launch of a stablecoin and related products, according to the release.

Western Union’s pending acquisition of Intermex, which it announced in August, is expected to close during the second quarter, subject to customary closing conditions, per the release.

Two other acquisitions that the company announced in the fourth quarter of 2024 recently closed, Lana in March and Dash this month, according to a presentation released Friday. Western Union also acquired Eurochange in April 2025.

Outlining its M&A strategy, Western Union said in the presentation that Intermex will strengthen its footprint in high-value corridors, Eurochange will expand its presence in the European travel money market, Dash will add digital wallet capabilities and access to the Asia-Pacific tech hub, and Lana will launch a digital wallet in Mexico.

“We are selectively investing in assets that enhance our corridor leadership, digital capabilities and product offerings while reinforcing the long-term resilience and growth profile of our global network,” McGranahan said during the call. “Importantly, these transactions are not stand-alone initiatives. They are enhancing an omnichannel platform where physical and digital channels reinforce one another and where the acquisition serves as a catalyst for accelerating the company’s strategy.”

Western Union’s stablecoin strategy includes a stablecoin called USDPT, a Digital Asset Network (DAN) that gives crypto wallets access to the company’s global network for funds-in and funds-out through one application programming interface (API), and a Stable Card, according to the presentation. The first DAN partner will launch this month, and USDPT will launch in the second quarter. Stable Card will allow consumers to hold value in stablecoin form and spend anywhere card acceptance exists, McGranahan said during the call.

USDPT will provide customers with a bridge between fiat and crypto, digital payment access for those who are unbanked, global accessibility, U.S. dollar price stability and 24/7 availability. It will also provide Western Union with reduced settlement costs, float opportunity and new business lines, per the presentation.

“Taken together, USDPT, DAN and Stable Card operate as a connected ecosystem,” McGranahan said during the call. “With launches imminent, partners coming online and early transactions beginning to flow through the network, we are firmly now in execution mode.”