Coinbase Eyes Challenge to Western Union With Remittances (1)

Coinbase Global Inc., the biggest U.S. cryptocurrency exchange, is wading into the international money-transfer business, seeking to tap into a huge market dominated by firms like Western Union Co.

Coinbase said it has launched a free pilot program for sending crypto funds to friends and family in Mexico. Receivers can convert the tokens into pesos at participating locations across the country or invest the funds into a Coinbase account. The service will become fee-based after March 31.

Coinbase didn’t disclose the cost but said in a blog post it will be “still 25-50% cheaper” than traditional cross-border transfers. ...