Western Union to Launch USDPT Stablecoin on Solana by Early 2026, Partnering with Anchorage Digital

Western Union, a global leader in cross-border payments, announced its plan to launch a new U.S. Dollar Payment Token (USDPT) stablecoin in the first half of 2026. This initiative, developed in partnership with Anchorage Digital Bank and built on the Solana blockchain, aims to integrate digital assets into its vast network spanning over 150 countries, enhancing the speed and efficiency of global money transfers. The announcement signifies a major strategic move by the traditional financial giant into the burgeoning stablecoin market.

The USDPT stablecoin is designed to facilitate faster, more cost-effective cross-border transactions for Western Union's extensive customer base. "Western Union’s USDPT will allow us to own the economics linked to stablecoins," stated Devin McGranahan, President and CEO of Western Union, highlighting the company's intent to leverage this technology for economic benefits. The company also plans to introduce a Digital Asset Network to bridge digital and fiat currencies, enabling seamless cash off-ramps for digital assets through its global retail footprint.

Anchorage Digital Bank, a federally regulated digital asset bank, will serve as the issuer and custodian of USDPT, ensuring regulatory compliance and security. The choice of the Solana blockchain is driven by its high throughput and low transaction costs, which are crucial for handling high-volume cross-border payments. This collaboration seeks to modernize financial infrastructure and expand digital asset adoption on a global scale.

The move positions Western Union to compete with a growing number of fintech companies and traditional players entering the stablecoin space, including rivals like MoneyGram, PayPal, and Stripe, which have also explored or launched stablecoin solutions. Stablecoins, a $300 billion class of crypto tokens, offer a faster and cheaper alternative to traditional payment rails, particularly appealing in emerging markets where dollar-denominated assets provide stability against local currency fluctuations. Western Union anticipates that USDPT will be accessible via partner exchanges, broadening its reach and utility.