Solana Just Took a Major Shot At Ripple, XRP Army Says Western Union Will Go Bankrupt

Western Union's latest announcement has sent ripples through the cryptocurrency industry, sparking intense debate among analysts. Crypto influencers Mason Versluis and Mickle find themselves on opposing sides of the controversy following Western Union's confirmation that it will develop a U.S. dollar-backed stablecoin, USDPT, on the Solana blockchain.

The remittance giant's choice to partner with Solana, rather than Ripple, has fueled speculation that XRP's long-standing dominance in the cross-border payments sector could be facing a significant challenge.

Mason Versluis Views It as "Bad News for XRP"

Mason Versluis was quick to react, characterizing the news as "crazy" and potentially detrimental to XRP. In a recent video, he stated, "Solana just did something crazy, and this could be bad news for XRP." Versluis highlighted that "Western Union has partnered and chosen to build exclusively on Solana—not with Ripple, not with XRP."

He stressed that this partnership is a concrete development, not mere speculation. "They are choosing Solana," Versluis continued, explaining that Western Union is bypassing the need for a bridge currency. "They are saying there is no bridge currency. There are stablecoins on Solana," he asserted.

Versluis further commented that this approach challenges Ripple's fundamental objective. "You guys know XRP—that’s its main mission, to be the bridge currency," he explained. "But what I’ve started to realize is that all crypto already does that. Crypto itself is a bridge currency."

Western Union's Solana Partnership Details

Western Union's official announcement confirmed that the USDPT stablecoin will be launched on Solana in collaboration with Anchorage Digital Bank. The company stated that its new "Digital Asset Network" is designed to facilitate faster, more affordable, and fully compliant global payments.

Western Union's CEO, Devin McGranahan, described the initiative as a critical step towards digital modernization.

"As we evolve into the digital-assets space, Western Union’s USDPT will allow us to own the economics linked to stablecoins," McGranahan stated. The company intends to integrate the stablecoin into its international transfer system, connecting on-chain liquidity with its extensive global network. The rollout is anticipated to commence in early 2026.

Solana was selected due to its high transaction speeds, scalability, and capacity to process thousands of payments per second at a minimal cost. Western Union aims to combine its decades of compliance expertise with Solana's blockchain efficiency.

Does This Pose a Threat to XRP?

Versluis believes that this decision undermines XRP's unique position as a bridge asset for cross-border transactions. "They are propagating this idea that there is no bridge currency," he stated. "They are saying stablecoins are the bridge currency."

Conversely, XRP proponents argue that Ripple's On-Demand Liquidity network remains unparalleled in its ability to settle multi-currency transactions instantaneously.

They point out that stablecoins such as USDPT are pegged to a single fiat currency, lacking true interoperability. Ripple's system facilitates value transfer between currencies without the need for pre-funded accounts, which continues to be a significant advantage.

The challenge for Western Union will involve scaling this new system while maintaining liquidity, regulatory compliance, and consumer trust. Transitioning such a vast international network to a blockchain-based model will necessitate considerable time, capital, and flawless execution.

Mickle's Counterpoint

While Versluis perceived Solana's deal as a potential setback for Ripple, Mickle dismissed it outright. He commented, "This company will be bankrupt before it moves a billion dollars on Solana." This statement directly addressed Western Union's plan, which he deems unsustainable.

Mickle's remarks echo a broader sentiment among XRP supporters. Many view Western Union's pivot to blockchain as a desperate attempt to remain relevant in the rapidly evolving payments landscape. By likening Western Union to "Blockbuster" and Ripple to "Netflix," Mickle implied that XRP's model represents the superior and more scalable solution.

The Future of Global Payments

The partnership between Western Union and Solana signifies a major development in blockchain adoption, bringing two distinct payment philosophies into direct competition: Solana's stablecoin-centric model and Ripple's bridge-asset framework. Versluis interprets this as a "major shot" at XRP, whereas Mickle considers it a venture destined for failure.

Ultimately, time will reveal the validity of these perspectives. If Western Union achieves success, stablecoins could indeed reshape the landscape of international remittances. However, if Ripple's technology continues to attract financial institutions, XRP may retain its position as the leading bridge asset in global finance. One aspect remains certain: the race to revolutionize payments is far from over.