After weeks of speculation about Western Union piloting the use of stablecoins for cross-border payments, it is now official that the giant money transfer company will launch a US dollar-backed stablecoin on the Solana blockchain to modernise cross-border payments and integrate blockchain technology into its global money transfer network.
It’s official: @WesternUnion, the world’s largest money transfer business, is building exclusively on Solana. 🔥
Set for early 2026, the stablecoin, named the US Dollar Payment Token (USDPT), aims to streamline international remittances while reducing costs and settlement times.
Bridging traditional and digital finance
The USDPT stablecoin will be issued in partnership with Anchorage Digital Bank, a firm specialising in digital asset management and regulatory compliance.
Anchorage’s involvement ensures that the token will adhere to US federal regulations and maintain a stable value, providing confidence to both consumers and institutional partners.
Western Union intends to make USDPT available through partner exchanges while also integrating it into a new Digital Asset Network, connecting crypto wallets and the company’s 400,000 retail outlets worldwide.
CEO Devin McGranahan emphasised that the introduction of USDPT is a continuation of Western Union’s long history of using technology to connect people globally.
The company has experimented with blockchain solutions in the past, including a relationship with Ripple that began in 2018, and has increasingly explored digital asset integrations in recent months, especially following the passage of the GENIUS Act in 2025, which established the first federal framework for US stablecoins.
Faster, cheaper transfers
Western Union is positioning USDPT as a practical tool for its 100 million customers, offering a faster and more cost-effective alternative to traditional banking and correspondent networks.
The stablecoin will be pegged to the US dollar, protecting users from local currency volatility and providing predictable value for cross-border transactions.
By leveraging Solana blockchain technology, the company hopes to cut transaction times, enhance operational efficiency, and reduce reliance on traditional financial intermediaries.
The launch also aligns with the increasing adoption of digital wallets and account-based payouts, which now account for more than half of Western Union’s digital transactions.
Through USDPT, users will be able to send, receive, spend, and hold digital dollars within a seamless and compliant ecosystem, highlighting the company’s commitment to innovation while maintaining global risk and compliance standards.
The future of cross-border payments
Western Union’s move into stablecoins signals a broader shift toward digital currency solutions and positions the company to remain competitive in the rapidly evolving remittance market.
As demand grows for faster, cheaper, and more transparent payment systems, USDPT could serve as a model for how legacy financial firms can adopt blockchain technology without compromising stability or regulatory compliance.
The introduction of the stablecoin also underscores Western Union’s intent to attract a new generation of users who are comfortable with digital assets while continuing to serve its existing customer base.
By combining the reliability of the US dollar with the speed and efficiency of the Solana blockchain, USDPT is expected to enhance the overall customer experience and provide a modern alternative to traditional international money transfers.
With an early 2026 launch on the horizon, USDPT represents a pivotal milestone in Western Union’s digital transformation, offering a glimpse into the future of cross-border payments and the growing role of stablecoins in global finance.
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