Western Union (WU) gears up stablecoin launch to settle global transactions without SWIFT
CoinDesk
Western Union is preparing to launch a USD-pegged stablecoin to settle international transactions faster and more efficiently than traditional SWIFT banking rails.Summary
Western Union is set to launch its own U.S. dollar stablecoin (USDPT) on the Solana blockchain to bypass the limitations of the traditional SWIFT settlement network. By utilizing stablecoins, the company aims to facilitate real-time, cross-border settlements with its agents, operating independently of banking business hours and holidays. Additionally, the company is introducing a Digital Asset Network for crypto-to-fiat cash-outs and a 'Stable Card' that will allow users to spend stablecoin funds directly in inflation-sensitive markets.
(Source：CoinDesk)