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Western Union has issued a USDPT stablecoin on Solana for fast international transactions
Western Union launched the USDPT stablecoin, pegged to the US dollar, on the Solana (SOL) blockchain, with Anchorage Digital Bank holding the federal license as the issuer. The company aims to accelerate transactions between agents 24/7 and transfer some treasury operations to USDPT to reduce the amount of idle funds in accounts. Among the plans are entering global exchanges, creating a Digital Asset Network, and launching the Stable by Western Union service in 2026 to pay with stablecoins in more than 40 countries.
Against the backdrop of the $322 billion stablecoin market and Western Union’s approximately 13% share, the company is strengthening competition with MoneyGram and PayPal, as well as in light of Mastercard’s initiative, which announced a partnership with startup Rain on May 4.