Western Union launched its USDPT stablecoin on the Solana blockchain on May 4, 2024, the company announced via press release. The stablecoin is designed for dollar-denominated digital transactions, marking Western Union's first direct integration with blockchain infrastructure.
What USDPT is
USDPT is a stablecoin that represents dollar-denominated digital transactions on the Solana network. Western Union did not provide further technical details at the time of the announcement.
The blockchain choice
The stablecoin runs on Solana, a high-throughput blockchain known for low transaction costs. Western Union did not elaborate on why it selected Solana over other networks.
Western Union's blockchain push
The launch represents Western Union's direct move into blockchain-based payments. No subsequent updates on the stablecoin's usage or adoption have been disclosed by the company since the announcement.
