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Western Union launches USDPT, a US dollar stablecoin, on Solana
Deep Tide TechFlow News, May 4th, according to Business Wire reports, Western Union (NYSE: WU) officially launched the USDPT dollar-pegged payment stablecoin on May 4th, issued by the United States’ first federally regulated crypto bank Anchorage Digital Bank N.A., built on the Solana blockchain. USDPT is fully backed by US dollars, positioned as an around-the-clock online settlement asset, aiming to replace traditional correspondent banking settlement models and eliminate delays and fragmentation in cross-border payments.
Western Union has planned four major application scenarios around USDPT: supporting licensed virtual currency exchanges for purchases, connecting exchanges with their global liquidity networks, launching consumer-facing payment products “Stable by Western Union” in over 40 countries by 2026, and achieving near-real-time 24/7 settlement with global agents.