The payment company Western Union has introduced its own digital currency USDPT, operating on the Solana network. The token was issued by the crypto-bank Anchorage Digital, and its provisioning is denominated in US dollars. The transition to blockchain infrastructure should speed up transactions and save the company from the usual banking delays.

CEO Devin MacGranahan noted that the use of a regulated digital dollar would be the basis for more efficient settlements with partners and agents. This year, Western Union intends to launch the Stable by Western Union service, which will allow residents of 40 countries to be paid directly with Stablecoins. In addition, USDPT will be allowed to trade licensed cryptotubes.

Thanks to the blockchain, Western Union will be able to settle accounts with agents instantly and around the clock. This will give companies more flexible liquidity management and reduce the amount of frozen funds in their accounts.