Western Union is set to launch its first stablecoin, USDPT, on the Solana blockchain in May 2026, as confirmed by CEO Devin McGranahan during the company's first-quarter earnings call on April 24. The token is a US dollar-backed stablecoin issued through the federally regulated Anchorage Digital Bank.
McGranahan stated, “It is no longer a question of if Western Union will be active in digital assets. It is now how fast we can scale.” USDPT is designed to replace the SWIFT network for agent settlements, enabling faster, more efficient cross-border payments that can operate even during traditional banking holidays.
The launch is part of a broader crypto strategy at Western Union, which includes a digital asset network connecting crypto wallets to its global retail locations and a US-dollar-backed payment card (stable card) expected later in 2026. The company is teaming up with exchange partners for token access, conversions, and distribution, while banking partners in key regions will support direct settlements and treasury operations.
This move aligns with a global trend of major institutions adopting stablecoins. For example, a consortium of 12 European banks is collaborating to launch a fiat-backed token by the second half of 2026. Western Union first disclosed its stablecoin plans in October 2025, emphasizing that USDPT will serve institutional-grade settlement needs rather than everyday consumer use.
