USDPT | Crypto

Western Union CEO Devin McGranahan said the company will focus on expanding adoption and embedding digital assets into its core money movement platform going forward. Financial services giant Western Union is targeting May for the rollout of its new stablecoin as part of a crypto plan that includes its digital asset network and US dollar stable card.  “Over the last few months, we've crossed an important threshold. It is no longer a question of if Western Union will be active in digital assets, it is now how fast can we scale,” said Western Union president and CEO Devin McGranahan during the company’s first-quarter earnings call on Friday.  “At the foundation of our strategy is USDPT, our US dollar-backed stablecoin. USDPT is now in its final stages of readiness and is expected to go live next month,” he added.  Read more

The infrastructure provider will support the planned launch of Western Union’s USDPT stablecoin on Solana, linking blockchain payments to its global payout network. Crossmint has partnered with Western Union to support the launch of the remittance company’s USDPT stablecoin and its new Digital Asset Network on the Solana blockchain.  Wednesday’s announcement said the collaboration will integrate Crossmint’s wallet and payment APIs with Western Union’s infrastructure, allowing fintech platforms to move funds using the stablecoin and connect to Western Union’s global payout network. That Digital Asset Network is intended to link stablecoins with the company’s existing payout infrastructure, enabling users to convert digital dollars into local currency through its network of more than 360,000 cash pickup locations worldwide. Read more