Overview
- USDPT will be available through partner cryptocurrency exchanges and Western Union’s Digital Asset Network for sending, spending, receiving, and holding funds.
- A pilot using stablecoins for value transfer is underway to reduce reliance on correspondent banks and to speed settlement while improving capital efficiency.
- Western Union plans to offer a cash off‑ramp through its global payout system serving roughly 150 million customers in more than 200 countries and territories.
- Digital wallets and account-based payouts now account for over half of Western Union’s digital transactions, reinforcing its shift toward digital assets.
- CEO Devin McGranahan said Solana was chosen after evaluating multiple blockchains for throughput, cost, and institutional readiness.