Western Union’s USDPT stablecoin has gone live on the Solana blockchain, marking the traditional remittance giant’s entry into on-chain digital assets.
Western Union launched its USDPT stablecoin on the Solana blockchain, according to a press release on May 4. The stablecoin represents Western Union’s direct integration with blockchain infrastructure, enabling the remittance and money services company to offer on-chain dollar-denominated digital assets to users.
Western Union is launching USDPT in partnership with crypto bank Anchorage Digital as the issuer, and the stablecoin is backed by U.S. dollar reserves.
The launch positions Western Union alongside other traditional finance players entering the crypto ecosystem through stablecoin issuance. The payments giant said in the release that it’s developing several services that will integrate the UDSPT, including a consumer-facing payment service, Stable by Western Union, that will launch this year in over 40 countries.
Source: Western Union
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
