Morning Minute: Western Union Chooses Solana for Stablecoin
Update: 2025-10-29
Description
Western Union, the world's largest money transfer company, is launching a U.S. dollar stablecoin called USDPT on the Solana blockchain in 2026. This move aims to serve hundreds of millions of people in regions like Latin America, Africa, and Southeast Asia, where stablecoins are popular for real economic activity. The stablecoin will be connected to Western Union's existing network, allowing international money transfers without bank transfer wait times or high foreign exchange fees. Western Union will also support cash-in and cash-out at local locations. This decision has significant implications for the stablecoin ecosystem and Solana's reputation, as it suggests major financial players see Solana as a reliable platform for global payments.
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