Western Union has launched its USDPT stablecoin, bringing blockchain-based settlement to its remittance business. Calling the launch “a major milestone in the company’s evolution toward regulated, digital‑first financial infrastructure,” Western Union said in a statement that USDPT will reinforce its “role as a global payments platform.” Western Union plans to roll out USDPT payments to 40 of the more than 200 countries it serves in 2026, starting with Bolivia and the Philippines. This will come via its Stable by Western Union digital wallet and debit card service, focused on inflation-sensitive regions. USDPT is a dollar-denominated and backed stablecoin issued by Anchorage Digital Bank, and built on the Solana blockchain. “USDPT…
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Facebook’s Libra cryptocurrency project is crumbling
Visa, Mastercard, eBay, Stripe, and Mercado Pago withdrew on October 11, leaving the stablecoin on its knees
Facebook’s Libra cryptocurrency plan began to collapse over the course of a few hours on the evening of Friday, October 11. Like dominoes toppling, many of its major partners began pulling out...
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Saudi Arabia and UAE announce blockchain pilot program to cut remittances costs
The two countries are testing the Aber cryptocurrency to make it cheaper for foreign workers from impoverished nations to send money home
A pilot program by Saudi Arabia and the United Arab Emirates creating a digital cryptocurrency called Aber is an experiment aimed at seeing whether blockchain technology can reduce the high cost of remittances, according to a statement by the two wealthy Gulf nations’ financial authorities.
