Western Union Unveils New Crypto Stablecoin Built on Solana Blockchain
Western Union says it plans to launch a new digital asset pegged to the US dollar. The stablecoin will be known as the U.S. Dollar Payment Token (USDPT), which will be built on the Solana blockchain and issued by Anchorage Digital Bank. The company is also unveiling a digital asset network designed to connect digital assets with traditional fiat currencies for real-world use. The initiative will expand money movement options for customers, agents, and partners while enhancing Western Union’s treasury operations. Western Union President and CEO Devin McGranahan says users will gain seamless access to send, receive, spend, and hold USDPT. “We are committed to leveraging emerging technologies to empower our customers and communities. As we evolve into the digital assets space, Western Union’s USDPT will allow us to own the economics linked to stablecoins. Separately, we are excited to announce our Digital Asset Network, a solution for the last mile of ...