Western Union: Payment giant relies on its own Solana stablecoin

INFBusiness
29.10.2025
Markets

Western Union is digitizing its business model. As the payment provider announced in a press release, the US company is now entering the stablecoin market. Signs of this had already become more apparent in July.
USDPT (US Dollar Payment Token) is a dollar-backed stablecoin. What's special about it is that the token will be based on Solana.
Anchorage Digital Bank is handling the issuance. According to Western Union, the issuance is planned for the first half of 2026. Customers will be able to obtain the stablecoin through the company's partner exchanges.
Western Union aims to make transactions cheaper and more efficient for its customers. “We are committed to using new technologies to empower our customers and our community,” said CEO Devin McGranahan.
Generally, this move is taking place against the backdrop of a growing stablecoin market and regulatory clarity in the USA.
Western Union emphasizes in this context that the combination of regulatory clarity, reduced transaction costs and Solana's performance makes the use of stablecoins more attractive in the global remittance business.
In addition to the stablecoin launch, Western Union is planning the “Digital Asset Network”. This network is intended to connect wallet providers and enable cash offramps via the company's global retail network, allowing digital assets to be exchanged for local currencies.
The goal is to connect digital and traditional payment channels and make cross-border transactions more reliable and cheaper.
In its 175-year history, Western Union has become one of the largest providers of cross-border payments. However, business has recently stagnated – partly because new (crypto) payment technologies offer significantly more favorable conditions.
The company is attempting to find an answer by launching its own stablecoin and its own digital payment network.

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