Remittance giant Western Union to launch USDPT stablecoin on Solana
Western Union’s new digital token aims to cut remittance costs and risks for millions through faster cross-border settlement on Solana.
Key Takeaways
- Western Union will launch the USDPT stablecoin on Solana in 2026 to facilitate international money transfers.
- USDPT is backed by the US dollar and issued by Anchorage Digital Bank to reduce costs and speed up settlements.
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Western Union, one of the world’s largest consumer money transfer companies, plans to roll out a dollar-backed stablecoin named U.S. Dollar Payment Token (USDPT) on the Solana blockchain, according to a Tuesday press release.
The news came after CEO Devin McGranahan told Bloomberg’s ‘The Close’ in July that Western Union was looking to integrate stablecoins into its digital wallet offerings as a way to enhance quicker and cross-border transactions. McGranahan described stablecoins as an “opportunity.”
The remittance giant is targeting the first half of 2026 for the launch of USDPT, designed to facilitate international money transfers for its 100 million customers, offering lower costs and faster transaction times. The stablecoin will be issued by Anchorage Digital Bank and accessible via partner exchanges.
Alongside the upcoming launch of the USDPT stablecoin, Western Union also plans to launch a new Digital Asset Network. Built to bridge the digital asset and fiat worlds, the system will allow users to cash out digital assets through Western Union’s global network of agents and partners. The company plans to partner with wallets and fintechs to expand its reach and utility.
According to Western Union CEO Devin McGranahan, the company’s push into digital assets reflects its commitment to using new technologies to empower customers. He said the launch of USDPT and the new Digital Asset Network will strengthen Western Union’s role in bridging digital and traditional finance through stablecoin-based transfers and global cash access.
“We are committed to leveraging emerging technologies to empower our customers and communities,” said McGranahan. “As we evolve into the digital assets space, Western Union’s USDPT will allow us to own the economics linked to stablecoins.
