1 week ago
Issued by Anchorage Digital, the Solana-based dollar-pegged stablecoin comes to revitalize the remittances and settlements processes astatine Western Union, which trust mostly connected bequest rails that trap idle liquidity to relation properly.
Key Takeaways:
- Western Union launched its 1st stablecoin, USDPT, connected Solana with Anchorage Digital Bank.
- Solana’s 24/7 colony capabilities escaped up idle liquidity for Western Union’s operations.
- By June 2026, Stable by Western Union volition motorboat user services crossed 4 countries.
Remittance Giant Western Union Launches Solana-Based USDPT Stablecoin
Even remittance giants, which person resisted the entranceway of stablecoins into the cross-border payments arena, are present embracing them.
Western Union, the U.S.-based remittances behemoth, has launched USDPT, a stablecoin that comes to reinvigorate the company’s concern model, which has relied until present connected bequest rails.
The stablecoin, issued by Anchorage Digital Bank, 1 of the archetypal federally chartered crypto institutions successful the U.S., offers a caller outgo conveyance for Western Union customers to determination wealth securely astatine a planetary scale.
Anchorage stated that USDPT changes the dynamic betwixt remittance and outgo operations, freeing idle liquidity that indispensable beryllium successful spot nether the bequest exemplary and easing the superior requirements for operations.
On this, Malcolm Clarke, Global Head of Digital Assets astatine The Western Union Company, declared:
“USDPT represents a meaningful measurement guardant successful however we determination wealth globally. By introducing a integer dollar into our network, we tin run successful a much efficient, capital-light mode portion continuing to present fast, reliable work to customers and partners astir the world.”
The determination to contented USDP connected apical of Solana is linked to the network’s scalability and performance, which Anchorage claims “enables near-instant, 24/7 colony capabilities that are captious for planetary outgo applications operating crossed clip zones and markets.”
Sheraz Shere, GM Payments & Commerce astatine the Solana Foundation, highlighted that “building connected Solana allows Western Union and Anchorage Digital to enactment high- volume, real-time outgo enactment successful a mode that accepted systems cannot.”
This innovation from USDPT comes successful the signifier of accrued treasury ratio and providing liquidity for 3rd parties. In addition, Stable, a caller user work that volition beryllium rolled retired successful June 2026, volition beryllium introduced to customers successful Mexico, Argentina, Colombia, and the Philippines.
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