Western Union will launch its USDPT stablecoin in May, using Solana (SOL) rails to replace SWIFT for agent settlements.
USDPT Launch Details
CEO Devin McGranahan confirmed the timing on the company's first-quarter earnings call on Apr. 24. He told analysts USDPT had reached its final readiness stage. The token will not debut as a consumer product.
Instead, Western Union plans to use it to settle with agent partners in select countries. McGranahan said the move replaces interbank SWIFT rails the company currently relies on for treasury flows.
The dollar-backed token is issued by Anchorage Digital Bank and runs on Solana. It is designed to clear over weekends and bank holidays, when traditional rails sit idle for two to three days.
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Why Settlement Speed Matters
Western Union posted adjusted revenue of $983 million in the first quarter, down 1% year over year. Shares closed at $8.90 on Friday, falling 4.6%.
McGranahan framed USDPT as the foundation of a three-part digital strategy. The Digital Asset Network connects crypto wallets to Western Union's retail footprint, with the first partner going live this week. A Stable Card for consumers in inflation-hit markets follows later in the year.
The push builds on the October announcement that first paired Western Union with Solana and Anchorage. At the time, executives pointed to T+2 and T+3 delays as the core problem USDPT would solve for agents holding capital across borders.
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