Western Union to launch stablecoin next month, with ‘Stable Card’ planned for global consumers

Western Union is set to launch its U.S. dollar-backed stablecoin, USDPT, next month, with CEO Devin McGranahan stating it's in the final preparation stages. This stablecoin, built on Solana, will initially be used for on-chain settlement with agents as an alternative to SWIFT, enabling faster transactions and bypassing traditional banking holidays. Beyond USDPT, Western Union is introducing the Digital Asset Network (DAN) to connect crypto wallets with its retail and agent network, with the first partner going live this week. Additionally, a 'Stable Card' is planned for later this year, allowing consumers to hold stablecoins and spend globally, particularly beneficial in inflation-sensitive markets. This move into digital assets comes as Western Union reported a stabilizing first quarter with adjusted revenue down only 1% year-over-year.

(Source：The Block)