Western Union is preparing to launch its first U.S. dollar-backed stablecoin, USDPT, in partnership with Fireblocks, as part of its push into blockchain-based cross-border settlement. The stablecoin will initially roll out in the Philippines and Bolivia before expanding globally through 2026. Fireblocks will provide wallet, custody, settlement, and treasury infrastructure, while Western Union aims to modernize payments and settlement operations using stablecoin rails.