Western Union, a long-established leader in global money transfers, is preparing to launch its own dollar-backed stablecoin called USDPT in the first half of 2026. This initiative marks a significant step as Western Union embraces blockchain technology to improve the speed, cost, and efficiency of cross-border payments for its vast customer base.
The new stablecoin will be built on the Solana blockchain, known for its fast transaction speeds and low fees. Anchorage Digital Bank, the first federally chartered digital asset bank in the U.S., will handle the issuance and custody of USDPT, ensuring regulatory compliance and security. Western Union’s choice of Solana reflects its commitment to combining blockchain innovation with trusted financial infrastructure.
USDPT is part of a broader Digital Asset Network Western Union plans to develop. This network will enable users to send, receive, hold, and spend USDPT through both digital wallets and Western Union’s extensive global agent network, which includes over 500,000 locations worldwide. The stablecoin aims to reduce transaction costs, eliminate currency volatility risks common in traditional remittances, and speed up settlement times, improving capital efficiency and user experience.
Western Union’s Digital Asset Network and USDPT come at a strategic time. Regulatory clarity improved after the GENIUS Act passed in the U.S. in 2025, providing a framework that reduces uncertainty for stablecoin issuers and encourages institutional adoption. This groundwork allows Western Union to confidently explore digital currency solutions aligned with regulatory standards.
Stablecoins have become crucial in global payments, growing into a multi-hundred billion dollar market. Companies like MoneyGram, PayPal, and Stripe are also integrating or developing stablecoin solutions. However, Western Union’s extensive physical and digital footprint offers a unique advantage, especially in emerging markets where banking access and currency stability can be challenging.
Devin McGranahan, Western Union’s President and CEO, highlighted that the stablecoin and Digital Asset Network will help Western Union advance its mission of making financial services accessible globally, focusing on inclusivity and efficiency.
Overall, Western Union’s USDPT stablecoin signals a major evolution in its business strategy, blending legacy finance strength with digital innovation to lead the future of cross-border payments. The launch in 2026 is poised to set new benchmarks in the remittance space by offering faster, safer, and more affordable transfer options worldwide.
This development underscores Western Union’s role pioneering the integration of blockchain technology into everyday financial services, benefiting millions of users across the globe.
