TechFlow News, May 4: According to a Business Wire report, Western Union (NYSE: WU) officially launched its U.S. dollar–pegged payment stablecoin, USDPT, on May 4. USDPT is issued by Anchorage Digital Bank N.A., the first federally regulated crypto bank in the United States, and built on the Solana blockchain. Fully backed 1:1 by U.S. dollars, USDPT is designed as a 24/7 online settlement asset aimed at replacing traditional correspondent banking settlement models and eliminating delays and fragmentation in cross-border payments.
Western Union has outlined four key use cases for USDPT: enabling licensed virtual asset service providers (VASPs) to purchase USDPT; connecting VASPs to Western Union’s global liquidity network; launching a consumer-facing payment product called “Stable by Western Union” in over 40 countries by 2026; and enabling near real-time, 24/7 settlements with Western Union’s global agent network.
