Western Union's USDPT Stablecoin Set to Launch in May with Solana Blockchain

Western Union, the 175-year-old company, is gearing up to launch its USDPT stablecoin in May. The dollar-pegged token will be built on the Solana blockchain and issued by Anchorage Digital Bank.

The plan involves creating a Digital Asset Network (DAN) that links crypto wallets and exchanges directly to Western Union's payout system. Users will be able to convert digital assets to cash at over 360,000 locations in more than 150 countries.

Western Union has chosen Solana for its speed and low fees, which are suitable for remittances and treasury work that often rely on slower systems like SWIFT. Anchorage Digital handles issuance and redemption under U.S. federal rules.