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After weeks of rumours, it’s now official, Western Union is entering the stablecoin space. The world’s largest money transfer company will launch a US dollar-backed stablecoin called US Dollar Payment Token (USDPT) on the Solana blockchain in early 2026. The goal is to modernise cross-border payments, lower costs, and make money transfers faster through blockchain technology.
The project will be launched in partnership with Anchorage Digital Bank, a regulated digital asset institution that will handle compliance and ensure USDPT stays fully backed and stable. This partnership guarantees that the token meets US federal standards, giving both users and financial partners confidence in its value and security.
USDPT will be integrated directly into Western Union’s network and made available on partner exchanges. The company also plans to connect the stablecoin to its Digital Asset Network, linking crypto wallets with over 400,000 Western Union retail locations worldwide. This means customers will eventually be able to send, receive, and even cash out stablecoins both digitally and at physical outlets.
Western Union’s CEO, Devin McGranahan, said the launch continues the company’s long tradition of using technology to connect people globally. The company has tested blockchain in the past, including a partnership with Ripple back in 2018. Its recent push into digital assets follows the GENIUS Act of 2025, which introduced the first federal framework for stablecoins in the US.
USDPT is designed to make money transfers faster and cheaper for Western Union’s 100 million customers. By using the Solana blockchain, transactions can settle almost instantly while costing far less than traditional bank transfers. The stablecoin will be pegged 1:1 to the US dollar, protecting users from currency swings and offering stable, predictable value.
This launch comes as more of Western Union’s digital payments now go through wallets and account-based payouts, which already make up over half of its digital transactions. The company says USDPT will allow users to send, hold, and spend digital dollars in a simple, regulated, and globally accessible way.
Western Union’s move signals how even long-established financial firms are embracing blockchain. The company hopes USDPT will bridge the gap between traditional finance and digital assets while staying compliant and secure.
If successful, USDPT could become a model for how other global payment providers adopt blockchain to deliver faster, cheaper, and more transparent international money transfers. With an official launch expected in early 2026, Western Union’s stablecoin marks a major step forward in the future of cross-border payments and the growing role of stablecoins in global finance.