Sidley Advised The Western Union Company in Launch of USDPT, Its U.S. Dollar Denominated Payment Stablecoin

Sidley advised The Western Union Company in connection with the launch of USDPT, Western Union’s U.S. dollar denominated payment stablecoin, marking a major milestone in the company’s evolution toward a regulated, digital first financial infrastructure. Announced on May 4, 2026, USDPT is fully backed by U.S. dollars and is issued by Anchorage Digital Bank N.A., the first federally regulated crypto bank in the United States, on the Solana blockchain.

Western Union will integrate USDPT directly into its leading global remittance network, taking advantage of instant scale and providing key benefits in terms of speed and efficiency of money movement.

The Sidley team was led by partners David Teitelbaum and Jess Cheng (Banking, Payments and Fintech).

For more information, please see Western Union’s website.