Financial services giant Western Union is targeting May for the rollout of its new stablecoin as part of a crypto plan that includes its digital asset network and US dollar stable card.
Western Union first announced the stablecoin in October, and said it would be built on Solana and issued by Anchorage Digital Bank. It plans to combine it with the digital asset network to allow users to use the token seamlessly.
Western Union president and CEO Devin McGranahan said exchange partners will support access, conversion and distribution of USDPT and banking and financial institution partners in priority corridors will facilitate direct settlement and treasury use cases.
Currently, US dollar-denominated stablecoins account for the lion’s share of the $320 billion stablecoin market capitalization.
Tether’s USDt (USDT) leads with a market cap of more than $189.7 billion, followed by Circle’s USDC (USDC) at $77.7 billion and Sky Dollar at $8.2 billion, according to DeFi analytics platform DefiLlama.
Source: X.com
You need to login in order to Like
Leave a comment