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Western Union launches Solana stablecoin as remittance firms test alternatives to SWIFT
Western Union launched its Solana-based stablecoin USDPT on Monday in the Philippines and Bolivia, with plans to expand into additional markets throughout 2026. CEO Devin McGranahan said on the Q1 earnings call that the token will serve as an alternative settlement layer to SWIFT. Industry executives said faster stablecoin settlement can free remittance capital, but private networks may also create new interoperability silos.