Western Union launches USDPT, a stablecoin on the Solana blockchain.

CoinFeed reported on May 4th that, according to Businesswire, Western Union, a major cross-border remittance company, officially announced the launch of its USDPT stablecoin on the Solana blockchain, further expanding its presence in the blockchain-based cross-border payments sector. USDPT, issued by Anchorage Digital Bank, a US federally chartered crypto bank, is backed by a 1:1 US dollar reserve, ensuring value stability. Leveraging the high performance of the Solana blockchain, it enables efficient and low-cost on-chain transaction settlement. The core objective of this stablecoin is to provide a professional on-chain settlement layer for cross-border payments, deeply integrating the efficient settlement characteristics of blockchain technology with Western Union's global compliance system and extensive distribution network.