During the presentation of the first-quarter earnings, the CEO of Western Union announced the launch of its USDPT stablecoin, scheduled for May.

It will be issued by Anchorage Digital Bank, which is currently the only federally licensed crypto bank in the United States.

According to the executive, the launch of the digital currency aims to offer an alternative to the SWIFT settlement system, leveraging the Solana blockchain “to process in real time and without business days what banks take up to three days to settle.”

The bank’s biggest ambition is to offer real-time settlement, 24/7, including holidays, unlike traditional banking.

The USDPT stablecoin is the first launch in Western Union’s plans. Second would be the Digital Asset Network (DAN), a platform that connects crypto wallets to the Western Union cash network. And third would be the Stable Card, planned for the end of 2026, which “will function as a debit card that allows users to hold stablecoins and spend in local currency through existing card networks, focusing on high-inflation markets where demand for dollar-denominated instruments is high.”

M.Pino

Source: cripto247

(Reference image source: appshunter.io on Unsplash)

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