Overview
- USDPT will be fully backed one-to-one by U.S. dollar reserves and issued by Anchorage Digital Bank, a federally regulated digital asset institution.
- Access is planned through partner cryptocurrency exchanges, with Western Union enabling customers to send, receive, spend and hold the token.
- A complementary Digital Asset Network will offer on- and off-ramps, including cash pickup through Western Union’s global agent footprint and wallet partnerships.
- Solana was chosen for high throughput, low latency and low transaction costs to handle large-scale remittance volumes and near-instant settlement.
- Western Union says stablecoin rails will lessen reliance on correspondent banking and improve capital efficiency, with rollout details, international approvals and user access mechanics still in development.