Western Union Launches USDPT Stablecoin on Solana

Western Union, a 175-year-old payments giant, has announced plans to launch USDPT, a USD-backed stablecoin on the Solana blockchain, set for the first half of 2026.

(Sources: X)

Partnership and Infrastructure Details

The USDPT stablecoin will be issued by Anchorage Digital Bank, leveraging Solana’s high-speed blockchain for low-cost, fast settlements. This partnership combines Western Union’s global network with Solana’s scalability and Anchorage’s regulated custody solutions. Users will access USDPT through partner exchanges, enabling seamless fiat-to-crypto conversions for remittances and payments.

Western Union CEO Devin McGranahan stated: “Our Digital Asset Network and USDPT will be an enabler in achieving our mission to make financial services accessible to people everywhere.” The initiative addresses the “last mile of the crypto journey” by providing cash off-ramps via Western Union’s 600,000+ locations.

Strategic Rationale: Evolving Digital Payments

The launch aligns with Western Union’s evolution into digital assets, reducing reliance on traditional rails. Stablecoins like USDPT offer instant, borderless transfers, slashing costs for the company’s $100 billion+ annual remittances across 200 countries. It follows Western Union’s acquisition of Intermex, which uses blockchain for cross-border efficiency.

Solana was chosen for its sub-second finality and fees under $0.01, making it ideal for high-volume payments. The move signals major fintechs’ embrace of blockchain, joining Visa and PayPal in stablecoin adoption.

Outlook: $300B Stablecoin Market

Stablecoins’ $300 billion cap, up 50% YTD, could hit $750 billion by 2026 per Standard Chartered. USDPT’s debut could capture 1-2% share, boosting Solana’s $14.78 billion stablecoin TVL.

In summary, Western Union’s USDPT on Solana revolutionizes remittances, blending legacy scale with blockchain speed for a compliant payment future.