Western Union Partners with Crossmint to Support USDPT Stablecoin on Solana

Western Union has partnered with Crossmint to support the launch of its USDPT stablecoin and new Digital Asset Network on the Solana blockchain. This collaboration will integrate Crossmint’s wallet and payment APIs with Western Union’s infrastructure, enabling fintech platforms to move funds using the stablecoin and connect to Western Union’s global payout network, which boasts over 360,000 cash pickup locations worldwide. The Digital Asset Network aims to bridge stablecoins with Western Union's existing payout infrastructure, allowing users to convert digital dollars into local currency. The USDPT stablecoin will be issued on Solana, and Crossmint's platform will provide developers access to the token through existing integrations. Western Union, a long-standing leader in remittances, is exploring stablecoins to address the slow settlement times and high costs associated with traditional cross-border transfers, which totaled about $905 billion globally in 2024.

(Source：Cointelegraph)