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Crypto

Western Union launches Solana-based dollar-pegged stablecoin USDPT

Western Union has launched a U.S. dollar-pegged stablecoin, USDPT, on the Solana blockchain, The Block reported on May 4. USDPT will be used as a settlement asset in Western Union’s cross-border payment network spanning more than 200 countries. The company will first introduce the token in the Philippines and Bolivia. The stablecoin is fully backed by U.S. dollars and will be issued by Anchorage under U.S. federal regulation.

Crypto

Who drives the stablecoin market: Issuance by Circle, distribution by Coinbase

Institutional finance payment infrastructure is shifting from correspondent banking-led structures to stablecoin networks, with key functions concentrated among a handful of firms. Stablecoin market capitalisation rose to $317.89 billion in April 2026 from about $125 billion in early 2024, while 2025 transfer volume reached $33 trillion. USDC led institutional payments. Issuance centres on Circle and Paxos, distribution on Coinbase and Wintermute, and custody on Fireblocks and exchange cold wallets.

Crypto

SoFi launches Big Business Banking to manage fiat and crypto on single regulated platform

Fintech company SoFi has launched Big Business Banking, a corporate banking platform that handles fiat-currency and crypto operations within a single regulatory system. Businesses can hold deposits, transfer funds and run 24-hour trade settlement in traditional currencies and digital assets. The platform runs through SoFi Bank and offers regulated banking services alongside blockchain-based payment and settlement rails, including SoFiUSD, selected cryptocurrencies and tools to convert between fiat and digital assets.