Western Union Aims to Leverage Stablecoins for Revenue Generation and Enhanced Compliance.

Western Union is launching its own stablecoin, U.S. Dollar Payment Token (USDPT), to earn float revenue on money moving through its network. The stablecoin is expected to launch this year and will be issued by Anchorage Digital Bank on the Solana blockchain and custodied by U.S. Bank. Western Union aims to use its own stablecoin to manage compliance risk and create customized transactions with partners. The company's CEO, Devin McGranahan, plans to use the stablecoin to turn a cost center into a revenue generator.