Western Union has officially launched USDPT, a US dollar-backed stablecoin built on the Solana blockchain, marking the money transfer giant’s first major foray into blockchain-based payments. The stablecoin, issued by federally chartered crypto bank Anchorage Digital, went live initially in Bolivia and the Philippines — markets that together cover approximately 130 million people.
Western Union CEO Devin McGranahan stated that USDPT “creates a more efficient settlement layer” for partners, agents, and future consumer use cases. Anchorage Digital CEO Nathan McCauley emphasized that scaling stablecoins into real payment networks requires “regulatory alignment and operational rigor,” which Anchorage provides through its federal charter. Fireblocks is supplying wallet and settlement infrastructure for the launch.
The company plans to expand USDPT to more than 40 countries during 2026 and will introduce a consumer-facing product called “Stable by Western Union.” Additionally, Western Union intends to make USDPT available on licensed crypto exchanges, linking them to its existing global payments and liquidity network that spans over 200 countries and territories and serves more than 150 million customers.
The move follows the US GENIUS Act (signed into law in July 2025), which established a regulatory framework for stablecoins and prompted other remittance firms to act. MoneyGram launched USDC services in Colombia, while Zelle announced stablecoin-powered cross-border transfer plans. The total stablecoin market cap currently stands at around $321 billion, with projections reaching $2 trillion by 2030 according to the US Treasury and Citigroup.
For Solana, the integration with a traditional finance network of Western Union’s scale represents a significant milestone. The blockchain has already outpaced rival layer‑1 and layer‑2 networks in tokenized stock trading volumes over the past 48 weeks, and analysts suggest that robust adoption by established financial infrastructure could bolster long-term confidence in the network.
