Western Union Launches USDPT Stablecoin on Solana

Western Union has announced the launch of its USDPT stablecoin, built on the Solana blockchain and issued through Anchorage Digital Bank. This initiative combines Western Union’s extensive global reach with the high-performance capabilities of blockchain technology and regulated stablecoin infrastructure.

The launch is integrated with the company’s new Digital Asset Network, which connects digital wallets to traditional cash off-ramps. This network is designed to enable users to send, receive, hold, and spend digital assets seamlessly.

Stablecoin Strategy for Global Payments

The USDPT stablecoin is intended to serve as a bridge between fiat and digital currencies, providing customers, agents, and partners with enhanced options for secure money movement. Stablecoins, such as USDPT, are digital tokens pegged to a specific currency, in this case, the U.S. dollar, which helps mitigate the price volatility commonly associated with cryptocurrencies. Devin McGranahan, Western Union’s CEO, highlighted that the stablecoin will empower the company to "own the economics linked to stablecoins" while also extending financial services to underserved communities.

By utilizing Solana’s high-speed blockchain, Western Union anticipates that USDPT transactions will settle quickly and efficiently. This advancement could significantly impact the remittance market. For instance, transferring money from the U.S. to the Philippines typically involves multiple intermediaries, leading to delays and fees. With USDPT, the transfer could potentially occur near-instantly on-chain, with the recipient then converting the stablecoin to local currency through Western Union’s Digital Asset Network.

Western Union has developed the Digital Asset Network to manage the "last mile" of digital payments. This network integrates with partner wallets and exchanges to offer straightforward access to cash, ensuring that digital assets can be easily spent or withdrawn. The partnership with Anchorage Digital Bank introduces regulatory oversight and institutional-grade security to the project, aiming to provide users with confidence in safety and compliance. The company plans to make USDPT widely accessible through partner exchanges in the first half of 2026.

More About Solana

Weekly stablecoin transfer volume on Solana has recently reached a 39-week high, indicating a resurgence in activity and interest within the network’s digital dollar ecosystem. This increase reflects growing adoption of stablecoins for payments, trading, and decentralized finance applications, as users benefit from Solana’s fast and low-cost blockchain infrastructure.

This trend underscores Solana’s continued importance as a platform for stablecoin transactions, offering a reliable alternative to networks that experience higher congestion. It also supports the broader expansion of digital financial tools.