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.
JUST IN: Western Union to launch stablecoin on Solana in 2026. pic.twitter.com/w0rJDyqVMs
— Watcher.Guru (@WatcherGuru) October 28, 2025
Bridging Traditional Finance and Web3
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.
Regulatory Clarity Fuels Digital Asset Adoption
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.
Modernization Strategy for a Competitive Future
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.