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Western Union said it launched its U.S. dollar-denominated stablecoin on the Solana blockchain to serve as a 24/7 settlement asset across its global payment network.The asset is issued by Anchorage Digital and utilizes Fireblocks infrastructure to facilitate near-instant treasury and agent settlement, according to a statement.

Remittance giant Western Union’s USDPT token will power cross-border payments and a consumer spending product launching in 40+ countries.

Western Union launched USDPT on Solana, adding regulated stablecoin settlement to its global payments network.Anchorage Digital issued USDPT, while Western Union plans exchange access and future consumer stablecoin services.SOL traded near $86 as traders watched the $88 to $90 breakout resistance zone.

Western Union announced that it will launch its stablecoin, USDPT, next month.Western Union is also launching a network connecting digital wallets to its existing retail infrastructure, and a stablecoin payment card for global consumers.

The USDPT stablecoin launching next month will serve as an alternative to SWIFT for agent settlements rather than consumer transactions.

Western Union expects USDPT to go live in May for faster settlement across payment corridors.The Digital Asset Network will connect crypto wallets with Western Union’s large global cash-out network.A planned Stable Card will let consumers hold and spend dollar-backed stablecoins later this year.