Western Union Announces Its Own USDPT Stablecoin

Last week, the cryptocurrency market retreated 6,5% after Fed Chairman Jerome Powell suggested that a December interest rate cut was not certain, dampening investor expectations for easing financial conditions. Before Wednesday's interest rate decision, the market had estimated a 96% probability of a cut at the December FOMC meeting. After the press conference, that figure fell below 70%.

In the coming week, we can expect a number of macroeconomic data – unless the US government shutdown is extended – that may influence further rate cut expectations in December, including data JOLTS Job openings, PCE inflation, and the latest nonfarm payroll and unemployment data. If the shutdown continues, more weight is being placed on Wednesday's ADP employment data. Indicators signaling a weakening labor market could reinforce expectations for a rate cut and restore risk-on sentiment in the cryptocurrency market.

The biggest increases

$DASH was one of the most bullish assets last week, gaining over 70% in response to growing demand for private cryptocurrencies.

The Dash project team announced on X that new token issuance tools and DEXs will be coming soon, and smart contracts are planned for next year. This has further fueled interest in the asset.

Spot debut of Solana, HBAR and Litecoin ETFs in the US

Last week, several spot altcoin ETFs launched in the US, including Solana, HBAR, and Litecoin.

On Tuesday, Canary Capital launched HBAR and Litecoin ETFs. In an interview with Bloomberg, the company's CEO, Steven McClurg, cited recently approved listing standards as key to securing approval for the ETFs despite the ongoing US shutdown.

Also on Tuesday, Bitwise launched BSOL, a Solana staking ETF, the first U.S.-listed product with 100% direct exposure to Solana, giving investors the opportunity to benefit from staking rewards. Despite the declines in the cryptocurrency market, the ETF has recorded net inflows of $197 million since its launch.

Grayscale’s Solana GSOL spot ETF debuted on NYSE Arca on Wednesday after converting from a closed-end fund, registering net inflows of $2,2 million to date.

Western Union with its own stablecoin

Western Union announced plans to issue last week stablecoina USDPT, pegged to the US dollar. The stablecoin will be based on the Solana blockchain and issued by Anchorage Digital Bank. Its launch is planned for the first half of 2026. Western Union plans for users to access USDPT through partner exchanges, ensuring broad availability and ease of use.

Western Union serves over 100 million customers worldwide. The stablecoin launch marks the company's move from traditional payment systems into the era of digital assets.