Western Union to Launch New Stablecoin and Digital Payments Network on Solana

Jimmy Aki
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On October 28, Western Union announced the development of a U.S. dollar-backed stablecoin on the Solana blockchain.

This new digital asset, slated for release in the first half of 2026, will be accessible for users to buy, hold, and transfer through the company’s partner exchanges.

Digital Asset Network Will Serve 200 Countries & Territories

The stablecoin ecosystem will consist of the US Dollar Payment Token (USDPT) and a comprehensive Digital Asset Network.

These components are being developed in collaboration with Anchorage Digital Bank, a federally regulated digital asset institution.

The Digital Asset Network is designed to function as a direct cash off-ramp, potentially serving over 150 million users across more than 200 countries and territories. This infrastructure is intended to facilitate faster and more cost-effective digital payments on a global scale.

The selection of the Solana blockchain followed an evaluation of several platforms. This decision was based on Solana’s high-performance infrastructure, which boasts a theoretical capacity of 65,000 transactions per second (TPS) and consistently processes between 1,000 and 1,600 TPS in real-world conditions.

The network’s capability was further demonstrated by a stress test in August 2025 that successfully exceeded 100,000 TPS.

By leveraging this high-speed blockchain, Western Union anticipates a significant reduction in transaction costs and settlement times for international payments.

GENIUS Act Enactment Propels Red-Hot Stablecoin Adoption

The timing of Western Union’s stablecoin launch is no coincidence. Global interest in stablecoins has grown in 2025, largely fueled by the US GENIUS Act, enacted in July.

This legislation mandates that stablecoin issuers maintain full 1:1 reserves backed by U.S. dollars or other low-risk assets, while also adhering to stringent transparency, auditing, and consumer protection standards

These rules have brought stability to the market. They offer clarity, credibility, and a sense of trust that had been missing in the sector.

For investors and institutions alike, the GENIUS Act removes a major barrier to regulatory uncertainty.

Following its enactment, the global stablecoin market cap had risen from $260 billion in July to $308.5 billion, at press time.

Furthermore, nations and corporations worldwide are racing to launch stablecoin with a clear regulatory framework.

In South Korea, the government is developing new rules for won-based stablecoins. Hong Kong is expanding access to licensed crypto products.

Japan’s fintech firm JPYC is set to launch the country’s first yen-backed stablecoin, alongside an issuance platform to support digital payments.

Concurrently, major corporations like Walmart and Amazon are reportedly developing proprietary stablecoins to streamline international transactions. PayPal also plans to expand its PYUSD token across eight additional blockchains, and other platforms like Kaia and LINE NEXT are building integrated applications for stablecoin payments.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.