Monetary providers firm Western Union plans to launch its personal stablecoin pegged to the US greenbackin response to a Wall Road Journal report.
The brand new digital asset, referred to as US Greenback Fee Token (USDPT), will probably be issued on the Solana community in partnership with Anchorage Digital Financial institution, an entity with federal financial institution standing in the USA.
The launch is deliberate for the primary half of 2026. With this initiative, Western Union seeks to supply its greater than 100 million clients a substitute for make worldwide transfers that mitigates the dangers related to the fluctuation of native currencies.
In line with the corporate, using this stablecoin in Solana might permit a discount in prices and sooner settlement of transactions. Devin McGranahan, president and CEO of Western Union, famous that the foray into digital belongings and stablecoins represents “the following chapter” within the firm’s historical past of connecting folks by know-how.
Simply yesterday, CriptoNoticias reported that Western Union was testing stablecoins to include into its treasury.
Solana’s alternative how the infrastructure for this challenge aligns with the rising adoption of this community for purposes that require a excessive efficiency and low transaction prices.
