Western Union to launch its own stablecoin "USDPT" in May, announcing the upcoming release of a globally universal "Stable Card"

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Western Union has officially sounded the horn for its entry into the cryptocurrency space. President and CEO Devin McGranahan announced last week that Western Union will launch its own stablecoin, "USDPT," in May this year, and will roll out a stablecoin payment card to global consumers later this year. During the Q1 earnings call on April 24, Devin McGranahan stated that the Solana-based stablecoin "USDPT" has entered the final preparation stage and is expected to officially debut next month. He emphasized: "Whether Western Union would enter digital assets is no longer the question; the focus now is on how quickly we can scale our operations. At the core of this strategy is our USD-pegged stablecoin, USDPT." Replacing the SWIFT system with "on-chain settlement" However, this stablecoin will not be directly available to the general public initially. In the Q&A session of the call, Devin McGranahan explained that the primary mission of USDPT is to serve as an enterprise-level B2B solution, replacing the traditional SWIFT system that Western Union currently relies on for fund settlements with global agents. USDPT will first be launched in selected countries, where it will be used for on-chain settlements with key agent partners, enabling faster transaction processing speeds and breaking the limitations of traditional banking holidays to achieve 24/7 efficient capital movement. Digital Asset Network (DAN) and "Stable Card" In addition to USDPT, Western Union is actively building a broader payment ecosystem and has teased the launch of two major integrated services. The first is the "Digital Asset Network (DAN)." This service will utilize USDPT and other cryptocurrencies to connect crypto wallets to Western Union's existing retail and agent network. Devin McGranahan revealed that the first partner for DAN is expected to go live this week, stating: "Through DAN, millions of crypto wallet users will be able to easily convert digital assets into local fiat currency via Western Union's retail network. For customers, the experience is simple and easy to use; for our agents, the operational process remains as familiar as it has always been." To further bring the convenience of USDPT and DAN directly to end consumers, Western Union will launch a "USD Stable Card" in dozens of markets by the end of this year, allowing consumers to store assets in the form of stablecoins and easily make card payments globally. Devin McGranahan noted: "For customers in inflation-sensitive markets, the Stable Card is highly attractive. In these regions, people have an urgent need for USD-denominated assets that preserve value while also wanting those assets to have immediate, practical utility for spending." Earnings gradually stabilizing, transformation path becomes the focus of market scrutiny While Western Union is aggressively pushing its digital asset strategy, the company also reported a gradually stabilizing Q1 performance. The financial report shows that Western Union's adjusted revenue for the first quarter was $983 million, a slight decline of 1% compared to the same period last year, but an improvement of 400 basis points (a 4% increase) compared to the fourth quarter of last year. Despite the aggressive pace of transformation and efforts to embrace new blockchain technologies, Western Union's stock price fell 4.6% last Friday, closing at $8.9. Moving forward, whether the stablecoin strategy can truly translate into profit momentum will remain a key focus for investors.

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Published:2026-04-27 04:09:23

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