Western Union is set to launch a new stablecoin on the Solana blockchain, signifying a significant shift towards digital innovation within the financial world. The company’s US Dollar Payment Token (USDPT) aims to revolutionize international money transfers with faster speeds and lower costs. Anchorage Digital, a regulated entity specializing in digital asset custody, will serve as the issuing partner for USDPT. This strategic move positions Western Union among traditional financial institutions actively adopting blockchain technology. Why Solana? Western Union’s selection of Solana over Ripple or Stellar stems from the network’s speed, scalability, and low transaction fees. The choice aligns with Western Union’s massive global transfer volume exceeding $100 billion annually. This marks a return to blockchain experimentation for the company after conducting XRP-based trials back in 2015.