Gate News message, April 27 — Western Union announced during its first-quarter earnings call on April 24 that its Solana-based stablecoin, USDPT, is in final preparation stages and is expected to launch next month. CEO and President Devin McGranahan stated: “It is no longer a question of if Western Union will be active in digital assets; it is now how fast we can scale. At the foundation of our strategy is USDPT, our U.S. dollar-backed stablecoin.”
USDPT will initially launch as a B2B settlement tool rather than a consumer-facing stablecoin, serving as an alternative to the SWIFT network for settlement with agent partners in select countries. This enables faster onchain processing that continues over traditional banking holidays.
Western Union is also launching the Digital Asset Network (DAN), which leverages USDPT and other digital assets to connect crypto wallets to the company’s retail and agent network; the first partner is set to go live this week. Additionally, the company plans to launch a USD Stable Card later this year across dozens of markets, allowing consumers to hold value in stablecoins and spend globally. McGranahan noted that “the Stable Card is particularly compelling in inflation-sensitive markets where customers want dollar-denominated value with immediate practical utility.”
Western Union reported stabilizing first-quarter results with adjusted revenue of $983 million, down 1% year-over-year but up 400 basis points from Q4. Its NYSE-listed stock WU fell 4.6% to $8.90.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
DeFi United’s crowdfunding campaign raises 102,000+ ETH, with AAVE rebounding to $100
According to the official DeFi United page, the multi-protocol relief fund DeFi United, initiated and led by Aave service providers, has raised more than 102k ETH as of April 27. The goal is to cover the bad-debt shortfall created in the Aave V3 market after the April 18 Kelp DAO cross-chain bridge attack incident. AAVE briefly broke above $100 before falling back.
MarketWhisper1m ago
Vcitychain DPoS Mainnet Goes Live with Self-Developed Consensus System
Gate News message, April 27 — Vcitychain, a commercial-grade blockchain, officially launched its DPoS mainnet today, transitioning to a self-developed Delegated Proof of Stake (DPoS) consensus system.
The upgrade aims to enhance network performance, increase decentralization, and improve on-chain g
GateNews9m ago
ApeCoin Transfers Game Control to Community as Blackbeard's Bounty Season 3 Concludes
Gate News message, April 27 — ApeCoin announced that Blackbeard's Bounty quest season has officially ended, though the ability for users to create and complete bounty tasks will remain active. As the season concludes, game control is being transferred to the community, with future development
GateNews10m ago
FLOA Ecosystem Launches FloaClaw AI Suite With Multi-Scenario Skill Matrix
Gate News message, April 27 — The FLOA ecosystem has officially launched FloaClaw, its core AI toolkit, featuring a multi-scenario AI skill matrix. Access to FloaClaw's functions is limited to Agent users at level 3 and above.
FloaClaw operates on a token-based system where users purchase
GateNews10m ago
Aave Labs proposes for Arbitrum: unlock 30,765 ETH in compensation for victims
According to a proposal published by Aave Labs on April 25 on the Arbitrum governance forum, Aave Labs asks the Arbitrum decentralized autonomous organization (DAO) to unfreeze 30,765 ETH associated with the Kelp DAO attack and to transfer the above funds to the “DeFi United” Recovery Fund, to restore support for rsETH and compensate holders.
MarketWhisper1h ago
Jupiter Lend Raises JLP/JupUSD Borrowing Limit to $40 Million
Gate News message, April 27 — Jupiter Lend has increased its JLP/JupUSD borrowing limit from $25 million to $40 million. Users can now borrow up to 85% LTV or perform recursive operations on JLP.
The protocol announced the adjustment via social
GateNews2h ago
