Western Union launches USDPT stablecoin issued by Anchorage on Solana

Western Union has introduced USDPT, a U.S. dollar-denominated stablecoin on the Solana blockchain, designed for round-the-clock settlement within its extensive cross-border payment network. Initially launching in the Philippines and Bolivia, the token aims to facilitate treasury management and near-instant 24/7 transfers between Western Union and its global agents. USDPT is fully backed by U.S. dollars and issued by Anchorage Digital Bank N.A., with Fireblocks providing the necessary infrastructure. This move allows for expanded access to Western Union's global payout and liquidity infrastructure via licensed virtual currency exchanges and will support the company's "Stable by Western Union" feature launching in 2026. The launch occurs as the total supply of U.S. dollar-backed stablecoins surpasses $300 billion, with Tether and Circle being the dominant players.

(Source：The Block)