Western Union to Launch USDPT Stablecoin on Solana

Western Union has announced plans to enter the cryptocurrency market with its own stablecoin, marking a significant expansion for the 173-year-old money transfer giant into the digital asset space.

Western Union’s USDPT Stablecoin: Details

The company will launch the U.S. Dollar Payment Token (USDPT) in the first half of 2026, built on the Solana blockchain and issued through Anchorage Digital Bank. The move represents Western Union's strategy to capture the economic benefits of stablecoins while maintaining its position in the evolving financial services landscape.

"As we evolve into the digital assets space, Western Union's USDPT will allow us to own the economics linked to stablecoins," said Devin McGranahan, President and CEO of Western Union.

Western Union’s New Network

Alongside the stablecoin, Western Union is launching a Digital Asset Network designed to solve what the company calls "the last mile of the crypto journey." This network will partner with cryptocurrency wallets and wallet providers to give users access to cash withdrawal options through Western Union's existing global infrastructure.

The Digital Asset Network aims to bridge the gap between digital currencies and physical cash, addressing a common challenge for cryptocurrency users who need to convert their digital holdings into spendable local currency.

Why Did Western Union Choose Solana?

Western Union selected Solana for its high-performance blockchain capabilities and Anchorage Digital Bank for its federally regulated stablecoin issuance platform. This partnership combines Western Union's global reach with institutional-grade security and regulatory compliance frameworks.

Users will be able to send, receive, spend, and hold USDPT through partner exchanges, with Western Union's compliance and risk management systems supporting the platform.

Strategic Implications of Western Union’s Stablecoin

The launch positions Western Union to compete in the growing stablecoin market, which has become increasingly attractive to traditional financial institutions. By issuing its own stablecoin, Western Union can potentially reduce transaction costs and speed up cross-border transfers while maintaining control over the economics of these transactions.

The company operates in more than 200 countries and territories, handling transactions across over 130 currencies through hundreds of thousands of retail locations, millions of digital wallets, and billions of bank accounts.

USDPT will be accessible through partner exchanges when it launches, though Western Union has not yet disclosed which specific platforms will support the token.

Resources:

• Western Union’s official press release
• Western Union’s official website