- Western Union has issued a dollar bill stablecoin on the blockchain Solana, to use it as a settlement asset in its global payments network 24/7.
- According to the company, the asset is issued by Anchorage Digital and uses Fireblocks infrastructure to provide near-instant treasury and agency settlements.
Western Union Company presented stablecoin, pegged to the US dollar, blockhouse Solana, positioning it as a 24/7 settlement asset for its international payments network spanning over 200 countries.
It is known that the company will first launch USDPT in the Philippines and Bolivia. Token Designed to manage treasury operations and transaction settlements, providing virtually instant transfers between Western Union and its agents around the world 24/7.
USDPT strengthens Western Union’s role as a global payments platform. By integrating a regulated digital dollar directly into our network, we are creating a more efficient settlement layer that will benefit partners, agents, and consumers in the future. сказал President and CEO of Western Union Devin McGranahan.
USDPT will be fully backed by US dollars and issued by Anchorage Digital Bank NA, the first federally regulated crypto bank in the US. Fireblocks was engaged to provide the wallet, settlement, and financial transaction infrastructure.
Stablecoins have always provided faster and more efficient value transfers, but their implementation in real-world payment networks requires more than just technology. It also requires regulatory compliance and strict operational discipline.
As a federally chartered bank, we provide this foundation, enabling USDPT to operate as a robust, permanent financial infrastructure from day one. said Nathan McCauley, co-founder and CEO of Anchorage Digital.
Western Union also announced plans to launch Stable by Western Union, a consumer service, in more than 40 countries this year that will allow USDP to be spent and transferred within the Western Union global payments ecosystem.
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