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Western Union is preparing to roll out a stablecoin strategy that could reshape how the money-transfer company settles payments.
Western Union will launch its USDPT stablecoin on Solana in partnership with Anchorage Digital next month.
KEY POINTS
- Initial USDPT usage will replace SWIFT for settling payments with agents, not for consumer transactions.
- The Digital Asset Network enables crypto wallet users to cash out digital assets via Western Union retail locations.
- Western Union's planned Stable Card will let users hold and spend stablecoins, targeting inflation-sensitive markets.
- Western Union's stablecoin initiatives respond to competition from MoneyGram, Stripe, and other blockchain-first payment providers.
COMPANIES
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