Western Union to launch Solana-based dollar stablecoin
1/ Key takeaways
Western Union is making a significant move into digital assets by planning to launch the US Dollar Payment Token (USDPT), a US dollar-backed stablecoin, on the Solana blockchain next year. This initiative will enable the company’s vast customer base to send money internationally with lower costs and reduced local currency risk, leveraging the recently enacted Genius Act’s federal framework for stablecoins.
2/ Western Union to launch Solana-based dollar stablecoin
2.1. USDPT launching
Western Union is launching the US Dollar Payment Token (USDPT), a new US dollar-backed stablecoin. This digital asset is slated to launch in the first half of 2026. It’s designed to broaden how customers, partners, and agents move money globally. The USDPT is built on the high-speed Solana blockchain and will be issued by Anchorage Digital Bank. This ensures the token benefits from a federally regulated stablecoin issuance platform.
2.2. Why is Western Union entering the digital asset space?
The decision to launch USDPT is a strategic move to modernize financial infrastructure and reduce reliance on legacy systems. Western Union aims to:
– Own the economics linked to the stablecoin, according to CEO Devin McGranahan
– Enable customers to send, receive, spend, and hold USDPT through a seamless, compliant experience
– Cut costs and improve efficiency for international money transfers
Furthermore, the company is creating the Digital Asset Network. This network is intended to provide the “last mile” solution for digital assets. It will partner with crypto wallets to offer cash off-ramps for digital assets using Western Union’s extensive global retail network. This connects digital currency directly to local spending needs.
2.3. How will compliance and security be ensured?
Compliance and security are central to this initiative. Western Union selected Solana and Anchorage Digital Bank based on a shared commitment to expanding digital asset adoption in a regulatory compliant manner.
Anchorage Digital Bank provides the institutional-grade custody and issuance framework. Western Union integrates its global compliance and risk capacities into the platform. This combination aims to foster trust and confidence among users worldwide by ensuring the safety and reliability of transactions. The company anticipates users will access USDPT via partner exchanges upon its availability.
3/ Hola Tech’s pov:
The upcoming launch of Western Union’s USDPT stablecoin on Solana in 2026, backed by Anchorage Digital Bank, mandates immediate action for both the development community and startups. Developers and technology enthusiasts should focus on mastering the Solana ecosystem, particularly its Proof-of-History (PoH) architecture, to be ready to build high-throughput applications that can utilize this new institutional financial rail. Furthermore, understanding the technical and regulatory interplay between a federally chartered bank’s issuance platform and a high-speed public blockchain is crucial for building the next generation of compliant DeFi and payment solutions.
For businesses and startups, the launch provides a clear incentive to strategically pivot towards digital asset integration. Companies dealing with cross-border payments, global payroll, or e-commerce should prioritize planning for USDPT integration to capitalize on potential reductions in settlement times and transaction costs. Critically, startups should look to partner with Western Union’s new Digital Asset Network to utilize its extensive physical network of cash off-ramps. This move is essential for solving the “last mile” liquidity challenge for digital assets, enabling a seamless conversion of crypto funds into local fiat currency for real-world utility.
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