Western Union Taps Fireblocks to Launch USDPT in Philippines, Bolivia
Western Union selected Fireblocks to provide wallet, settlement and financial operations for USDPT, its U.S. dollar-backed stablecoin, with initial rollout in the Philippines and Bolivia and global expansion through 2026. USDPT will allow customers to hold U.S. dollars, convert into local currencies, and transfer funds across the network.
1. Fireblocks Powers USDPT Infrastructure
Western Union selected Fireblocks to deliver the wallet, settlement and financial operations layer for USDPT, its U.S. dollar-backed stablecoin. Fireblocks’ platform will handle issuance, custody, policy controls and the Payments Engine across a network of 2,400+ institutional counterparties in over 100 countries.
2. Embedded Wallets and Reporting
Dynamic’s noncustodial embedded wallets will hold USDPT for Western Union agents, enabling value storage and future service deployment. TRES will convert on-chain data into SWIFT MT940 and MT942 formats, integrating digital dollar flows into existing finance and reporting systems.
3. Initial and Global Rollout
USDPT operations will launch this year in the Philippines and Bolivia, targeting markets with limited dollar access or volatile local currencies. Western Union plans a global expansion of USDPT across its network through 2026.
4. Strategic Impact
The stablecoin offers programmable dollar rails to modernize settlement infrastructure and strengthen Western Union’s competitive position in cross-border payments. Access to regulated digital dollar services could expand customer reach and reduce settlement costs over time.