PDAX integrates Western Union USDPT stablecoin for Filipino users

Filipino digital asset exchange PDAX has integrated Western Union’s U.S. dollar-denominated stablecoin, USDPT, allowing local users to hold and trade the asset directly. The integration aims to provide overseas Filipino workers and digital freelancers with a faster, 24/7 alternative to traditional remittance methods that are often subject to banking hours and intermediary fees.

USDPT operates on the Solana blockchain, which offers low transaction fees and rapid processing. The stablecoin is issued by Anchorage Digital Bank, N. A., a U.S. federally chartered trust bank, and is backed 1:1 by reserves including U.S. dollar deposits, Treasury securities, and cash equivalents. PDAX is regulated by the Bangko Sentral ng Pilipinas (BSP).