In October, Western Union made the first announcement about the stablecoin, stating that it will be issued by Anchorage Digital Bank and based on Solana.
Direct settlement and treasury use cases will be facilitated by banks and financial institution partners in key corridors, according to McGranahan.
As part of its crypto strategy, which also include its digital asset network and US dollar stable card, financial services behemoth Western Union is aiming to launch its new stablecoin in May.
Western Union president and CEO Devin McGranahan stated:
“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.”
Banking on Stablecoin Growth
Their US dollar-backed stablecoin, USDPT, is the backbone of their plan. He also said that USDPT is almost ready to launch next month. Stablecoins have been used by an increasing number of conventional financial in
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