Western Union to launch stablecoin 'USDPT' next month

Western Union, the world's largest remittance and payment company, will launch a Solana (SOL)-based stablecoin, USDPT, next month, The Block reported. During a first-quarter conference call, Western Union CEO Devin McGranahan stated that it is no longer a question of whether the company will operate in the digital asset space, but rather how quickly it can expand. USDPT is not intended to be a consumer-facing stablecoin but will be used on the SWIFT network. It is expected to enable rapid processing, even on bank holidays, through on-chain settlement with major agent partners.