Western Union selects Fireblocks to power its first stablecoin, USDPT

Western Union (WU) has selected Fireblocks, the enterprise platform securing more than $14T in digital asset transactions, to provide the core infrastructure behind USDPT, Western Union’s U.S. dollar-backed stablecoin. Fireblocks’ platform, along with Dynamic’s embedded wallet and TRES’ financial platform, both recently acquired by Fireblocks, will power Western Union’s ability to settle with agents in USDPT across Western Union’s global network this year. Fireblocks provides the unified infrastructure that lets Western Union operate USDPT at scale in markets where access to U.S. dollars is limited, local currencies are volatile or formal banking is out of reach. The platform provides custody, policy controls and the Payments Engine for issuance and movement, with the Fireblocks Network connecting Western Union to 2,400+ institutional counterparties across 100+ countries for liquidity and settlement. USDPT operations on Fireblocks will roll out initially across two markets, the Philippines and Bolivia, with expansion across Western Union’s global network through 2026.