The Western Union Company has revealed plans to enter the digital asset space with the launch of a U.S. dollar–backed stablecoin called USDPT (U.S. Dollar Payment Token). The token will operate on the Solana blockchain and be issued through Anchorage Digital Bank, a federally chartered crypto custodian.
According to the company, the USDPT stablecoin will serve as a bridge between fiat and digital finance, enabling faster, cheaper, and more transparent transactions. Western Union also plans to introduce a Digital Asset Network, which will allow users to send, receive, hold, and convert USDPT across borders seamlessly.
The rollout of both USDPT and the Digital Asset Network is expected to begin in early 2026. This marks a significant step for the global remittance giant as it integrates blockchain technology into its traditional financial ecosystem.
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Western Union’s President and CEO, Devin McGranahan, described the initiative as part of the company’s ongoing evolution:
“As we move further into the digital economy, our goal is to simplify global money movement. USDPT allows us to blend trust, compliance, and innovation, giving customers access to stable, efficient cross-border transactions,” he said.
The decision to build on Solana reflects the network’s growing adoption among major institutions due to its high transaction throughput and low fees. Partnering with Anchorage Digital also ensures the stablecoin meets regulatory and security standards, an essential factor for a financial institution with over 100 million customers in more than 200 countries.
This move by Western Union shows a broader shift among traditional financial firms exploring blockchain-based settlement systems. With stablecoins gaining traction as tools for remittances and payments, USDPT could position the company as a major player in merging Web3 innovation with mainstream finance.
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