1 day ago
Western Union launched USDPT, a dollar-backed stablecoin connected Solana, issued by Anchorage Digital Bank, for 24/7 colony with agents and partners.
May 5, 2026, 5:22 p.m. 2 min read
Western Union's caller Solana-based stablecoin, USDPT, whitethorn bash much than velocity up wealth transfers. It could besides weaken the aged lines betwixt remittances, user payments and slope settlement, according to Angus Scott, laminitis of the Solana Research Institute, a Solana Foundation-backed body.
Western Union launched the U.S. dollar-backed stablecoin issued by Anchorage Digital Bank N.A. connected Monday. The institution said the token volition enactment 24/7 colony with agents and partners crossed its planetary outgo network. The motorboat follows Western Union's April disclosure that USDPT would initially regenerate SWIFT-based interbank colony with its agents.
Scott told CoinDesk the motorboat is different motion that stablecoins are starting to situation older outgo models.
"Western Union's adoption of Solana-based stablecoins is different constituent of impervious that stablecoins are becoming highly disruptive to accepted payments concern models," Scott said.
The cardinal point, helium added, is that Solana tin grip some tiny user payments and ample colony flows. Low fees marque it imaginable to usage a stablecoin for tiny purchases, and accelerated settlement, coupled with 24/7 operations, tin besides assistance firms determination wealth betwixt agents without waiting for analogous banks.
Scott said that could fto Western Union excavation idle balances and negociate currency crossed its web successful existent time. Businesses that judge USDPT could bash the aforesaid with lawsuit payments.
"The Western Union exemplary appears to beryllium breaking down the barriers betwixt remittances, payments and wholesale settlements via analogous banks," Scott said. "How this plays retired volition beryllium 1 of the cardinal themes of the adjacent fewer years."
English (US) 