Legacy payment giant Western Union has announced plans to launch a USD-backed stablecoin ($USDPT) on the Solana blockchain in 2026, partnering with Anchorage Digital Bank to facilitate custody and compliance.
According to the company’s statement, the move represents an effort to merge traditional remittance infrastructure with blockchain-based finance, leveraging Solana’s high-speed network to expand cross-border payment efficiency.
Western Union framed the initiative as an evolution of its 150-year legacy in money transfer, stating that this step will bridge global remittances with on-chain finance, marking its formal entry into the Web3 ecosystem.
SOLANA WATCH📽: Western Union will launch a USD-backed stablecoin $USDPT on Solana in 2026, in partnership with Anchorage Digital Bank. 💵⚡
The move bridges global remittances with on-chain finance — bringing 150+ years of money transfer innovation to Web3. 🌍 pic.twitter.com/wymUr8yP01
— 36crypto – Daily Cryptocurrency News and Update (@36Crypto2) October 29, 2025
A Strategic Move Into Stablecoins and On-Chain Payments
The launch of USDPT aligns with Western Union’s broader digital transformation strategy, aimed at competing with fintech disruptors like PayPal, Revolut, and blockchain-native payment solutions.
By deploying on Solana, Western Union seeks to capitalize on low transaction costs and high throughput, positioning its stablecoin as a vehicle for instant settlement and remittance efficiency.
The company’s partnership with Anchorage Digital Bank, a federally chartered crypto custodian, ensures that the stablecoin will operate within regulated frameworks, potentially appealing to institutional and retail users seeking compliance and reliability.
XRP Community Dismisses the Announcement as ‘Overhyped’
While the announcement received enthusiasm from Solana supporters, the XRP community reacted with skepticism.
Nietzbux, a well-known XRP advocate, argued that Western Union’s move pales in comparison to Ripple’s earlier partnerships in the remittance space, including its 2019 collaboration with MoneyGram.
Ripple partnered with Moneygram 6 years ago and it ended after the lawsuit.
Western Union issuing a single USD stable coin on Solana is nice adoption, but mostly a lukewarm event in today’s world of mass adoption.
The fact that Solana and its lead dev are calling this a dark…
— nietzbux (@nietzbux) October 28, 2025
He noted that the XRP ecosystem has already pioneered blockchain-based cross-border payments at an institutional scale, and framed Solana’s community response as “insecure” and “obsessed” with XRP’s dominance.
According to Nietzbux, Western Union’s USD stablecoin is “a nice adoption step” but represents “a lukewarm event in today’s world of mass adoption,” especially compared to the trillions in potential value tied to enterprise-grade tokenization and settlement networks built on XRP Ledger.
The Tribalism Debate in Crypto Resurfaces
The reaction also reignited ongoing tensions between the XRP and Solana communities, reflecting broader tribalism across crypto ecosystems.
Nietzbux concluded by calling for maturity in the space, noting that “making your PR wins about another coin is just not a confident look,” referencing recent Solana-affiliated commentary that framed the Western Union deal as a blow to XRP.
While Western Union’s stablecoin marks another step toward mainstream blockchain integration, the mixed reception underscores how competitive narratives continue to shape crypto adoption, even as traditional finance steadily enters the Web3 frontier.