"Western Union is preparing to launch USDPT, short for U.S. Dollar Payment Token, a dollar-backed digital asset built on Solana and issued by federally regulated Anchorage Digital Bank."
"A sender settling a transaction in USDPT on Solana can direct the recipient to collect local currency at any of Western Union's 360,000 agent locations across 190+ countries, bypassing the wire transfer delays that have long characterized cross-border remittance."
"Crossmint is providing the technical backbone, including cryptocurrency wallets and payment application programming interfaces that connect USDPT directly into Western Union's existing infrastructure."
Western Union is preparing to launch USDPT, a Solana-based stablecoin, next month. USDPT, issued by Anchorage Digital, will integrate with Western Union's network of 360,000 cash pickup locations in over 190 countries. Users can send, receive, spend, and hold USDPT without wire delays. The token connects digital asset holders to Western Union's cash off-ramp infrastructure, allowing recipients to collect local currency easily. Specific launch dates and fee structures for USDPT transactions have not yet been disclosed.
Read at news.bitcoin.com
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