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Key Takeaways
- Western Union will launch the USDPT stablecoin on Solana in 2026 to facilitate international money transfers.
- USDPT is backed by the US dollar and issued by Anchorage Digital Bank to reduce costs and speed up settlements.
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Western Union plans to launch a dollar-backed stablecoin named U.S. Dollar Payment Token (USDPT) on the Solana blockchain, according to the Wall Street Journal.
The initiative, scheduled for the first half of 2026, aims to facilitate international money transfers for its 100 million customers, offering advantages such as reduced costs and faster transaction times. The stablecoin will be issued by Anchorage Digital Bank and accessible via partner exchanges.
CEO Devin McGranahan said in a July interview with Bloomberg’s ‘The Close’ that the company was looking to enhance its global payment systems with stablecoin capabilities to enable quicker and more reliable cross-border transactions.
