Western Union partners with Fireblocks to launch USD-backed stablecoin USDPT, starting in the Philippines and Bolivia.

Western Union has chosen Fireblocks to provide the wallet, settlement, and financial infrastructure for USDPT, its U.S. dollar-backed stablecoin. This partnership enables Western Union to offer digital dollar services, allowing customers in markets like the Philippines and Bolivia to hold, transfer, and convert value in USDPT, improving access where local currencies are volatile or banking is limited. The rollout will begin in these two countries with plans to expand globally through 2026, modernizing Western Union's settlement system and enhancing its competitive edge in the evolving digital payments space.