In a landmark move toward digital transformation, Western Union has announced plans to launch a U.S. dollar-backed stablecoin called the U.S. Dollar Payment Token (USDPT) on the Solana blockchain in the first half of 2026.
The initiative marks one of the most significant steps yet by a legacy financial institution into blockchain-based payments.
The USDPT stablecoin will be issued by Anchorage Digital Bank, a federally chartered crypto custodian, and is designed to cut transaction costs and speed up cross-border transfers for millions of Western Union customers worldwide.
It's official:@WesternUnion, the world's largest money transfer business, is building exclusively on Solana. 🔥 pic.twitter.com/dJMnKN5EY4
— Solana (@solana) October 28, 2025
As part of the rollout, Western Union will introduce a new Digital Asset Network, allowing users of partner crypto wallets to convert digital assets into local currencies through the company’s 400,000+ retail locations across more than 200 countries. This integration aims to bridge the gap between on-chain finance and traditional remittance infrastructure, a market Western Union has dominated for over a century.
Customers will gain access to USDPT through Western Union’s exchange and wallet partners, creating a hybrid ecosystem that blends blockchain efficiency with global cash-out accessibility.
In its statement, the company highlighted that the recent passage of the GENIUS Act, which provides clearer regulatory frameworks for stablecoins in the United States, was a key factor behind the timing of the launch. The act’s approval has given financial giants greater confidence to engage directly with blockchain-based digital assets.
Western Union’s stablecoin initiative is part of a broader modernization strategy focused on leveraging blockchain and digital asset infrastructure to stay competitive in the evolving global payments landscape. By integrating with Solana, known for its high-speed, low-cost transactions, the company seeks to position itself at the intersection of traditional finance and Web3 innovation, potentially redefining how remittances and international transfers operate in the coming decade.