Western Union Enters The Digital Finance Space With The Launch of USDPT Stablecoin

Western Union has announced its plans to launch its stablecoin on Solana. Western Union says the stablecoin, called the U.S. Dollar Payment Token (USDPT), will be designed to bridge the gap between the digital asset and fiat worlds.

The new stablecoin will be issued by Anchorage Digital Bank, expanding the ways customers can easily transfer their funds. It will also bring ease and simplicity to partners and agents, giving them more options to support the firm’s treasury capabilities.

Western Union Wants To Offer Digital Custody Solutions

The launch will bring together Solana’s high-performance blockchain technology, Western Union’s global digital footprint, and Anchorage Digital’s industry-leading stablecoin issuance platform.

Following the introduction of the stablecoin, Western Union will offer digital custody solutions and provide its users with access to digital assets. Users can receive, spend, send, or hold USDPT on the platform, supported by the firm’s risk capabilities and global compliance.

President and Chief Executive Officer of Western Union, Devin McGranahan, commented on the development. “We are committed to leveraging emerging technologies to empower our customers and communities,” he said. McGranahan noted that the USDPT will enable the firm to work with platforms linked to stablecoins as the digital assets market continues to evolve.

Meanwhile, the company has partnered with wallet providers to provide customers with easy access to cash off-ramps via the Digital Asset Network. Western Union wants to leverage its global network and the new stablecoin to offer more options for its users. With the USDPT and its new Digital Asset Network, the firm hopes to achieve its mission of making financial services easily accessible to its global users.

USDPT Will Be Ready In The First Half Of 2026

Western Union has hinted that the new stablecoin will be available by the first half of next year. Once available, users can access the stablecoin through its partner exchanges, enabling ease of use and broad accessibility.

Western Union says its decision to launch a new stablecoin built on the Solana blockchain is driven by the need to update and modernize its financial infrastructure. For several decades, the firm has remained the giant of international money remittances.

But with the evolving digital finance landscape, it doesn’t want to get left behind. Apart from money transfers, Western Union is looking to expand its operations into other financial sectors, including digital asset adoption. But the firm wants to ensure reliability and safety by providing compliance protocols and institutional-grade security measures.