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.
Western Union will first introduce USDPT in the Philippines and Bolivia. USDPT is designed to support treasury management and transaction settlement. It can process transfers between Western Union and global agents in near real time, The Block said.
USDPT is fully backed by U.S. dollars, and issuance will be handled by Anchorage, a crypto bank operating under U.S. federal regulation. Fireblocks will provide wallet, settlement and financial operations infrastructure.
Western Union plans to make USDPT available on authorised digital asset exchanges as well.
USDPT will also be applied to Stable by Western Union, which is set to launch for consumers in more than 40 countries in 2026.
Chi-gyu Hwang
delight@d-today.co.kr