Gate News message, April 27 — Western Union announced during its first-quarter earnings call on April 24 that its Solana-based stablecoin, USDPT, is in final preparation stages and is expected to launch next month. CEO and President Devin McGranahan stated: “It is no longer a question of if Western Union will be active in digital assets; it is now how fast we can scale. At the foundation of our strategy is USDPT, our U.S. dollar-backed stablecoin.”
USDPT will initially launch as a B2B settlement tool rather than a consumer-facing stablecoin, serving as an alternative to the SWIFT network for settlement with agent partners in select countries. This enables faster onchain processing that continues over traditional banking holidays.
Western Union is also launching the Digital Asset Network (DAN), which leverages USDPT and other digital assets to connect crypto wallets to the company’s retail and agent network; the first partner is set to go live this week. Additionally, the company plans to launch a USD Stable Card later this year across dozens of markets, allowing consumers to hold value in stablecoins and spend globally. McGranahan noted that “the Stable Card is particularly compelling in inflation-sensitive markets where customers want dollar-denominated value with immediate practical utility.”
Western Union reported stabilizing first-quarter results with adjusted revenue of $983 million, down 1% year-over-year but up 400 basis points from Q4. Its NYSE-listed stock WU fell 4.6% to $8.90.
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