Summary
- Western Union said its Solana-based stablecoin USDPT is in the final stage of development and is scheduled to be unveiled next month.
- The company said USDPT will be introduced in selected countries and with key partners as a tool to replace the international payments network SWIFT in Western Union’s settlement system.
- Western Union said it plans to gradually roll out dollar-based payment functions in dozens of markets this year through the Digital Asset Network and the USD Stable Card.
Forecast Trend Report by Period
Western Union is preparing to launch a Solana-based stablecoin, The Block reported on April 27.
Chief Executive Officer Devin McGranahan said the US dollar stablecoin, USDPT, is in the final stage of development and is due to be unveiled next month.
USDPT will be used in Western Union’s settlement system as an alternative to SWIFT, the traditional international payments network. The initial rollout will focus on selected countries and key partners.
The company also plans to introduce a Digital Asset Network linking crypto wallets with its offline and agent network.
Western Union plans to roll out a USD Stable Card in dozens of markets later this year to support dollar-based payments.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
