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Western Union plans to launch its USDPT stablecoin next month as part of a broader push into digital assets, aiming to speed settlement across payment corridors and expand how customers move between digital value and local currency.
Western Union expects USDPT to go live in May, following months of preparation. The company said the token is in its final stage of readiness.
Alongside the stablecoin, Western Union is rolling out the Digital Asset Network (DAN), designed to connect crypto wallets with Western Union’s global cash-out network. The company said the first DAN partner is expected to go live this week.
Western Union CEO Devin McGranahan said on the firm’s first-quarter earnings call that the company has moved beyond planning. He stated: “It is no longer a question of if Western Union will be active in digital assets; it is now how fast we can scale.”
USDPT is a U.S. dollar-backed stablecoin built on Solana and issued by Anchorage Digital Bank. Western Union first announced the stablecoin in October as part of its plan to modernize money movement.
McGranahan said USDPT will not be launched as a direct consumer-facing stablecoin. Instead, Western Union plans to use it as an alternative settlement tool with agents, including in select countries and core payment corridors.
Western Union said DAN will connect crypto wallets with its retail and agent network, enabling users to convert digital assets into local currency.
McGranahan said: “Millions of wallet users will be able to move from digital assets into local currency using Western Union’s retail network.”
Western Union also plans to launch a U.S. dollar Stable Card later this year. The company said the card will allow users to hold value in stablecoins and spend across dozens of markets.
Western Union said the product may be aimed at customers in inflation-sensitive markets who want dollar-denominated value for daily use. McGranahan added that the company’s goal is to scale adoption and embed digital assets into its core money movement platform.
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