PANews reported on May 4th that, according to Businesswire, Western Union, a cross-border remittance giant, officially announced the launch of the USD stablecoin USDPT on the Solana blockchain, further expanding its presence in the blockchain-based cross-border payment field.

USDPT, issued by Anchorage Digital Bank, a US federally chartered crypto bank, is backed by a 1:1 US dollar reserve to ensure value stability. It leverages the high performance of the Solana blockchain to achieve 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 the advantages of Western Union's global compliance system and extensive distribution network.

USDPT has been confirmed to be directly integrated into Western Union's global payment system, primarily for building a more efficient settlement layer. Initially, it will mainly serve the company's global agents and partners, and will gradually expand to consumer application scenarios in the future, further optimizing the efficiency and experience of cross-border payments and promoting the integration of traditional cross-border remittances with encrypted infrastructure.