Western Union has launched its own stablecoin, USDPT, on the Solana blockchain. The coin is issued by the crypto bank Anchorage Digital.
The token's reserves are held in US dollars. The integration with Solana will enable the company to speed up transactions and move away from traditional interbank systems that often cause delays.
Western Union CEO Devin McGranahan stated that the introduction of a regulated digital dollar will create an efficient layer for transactions between partners and agents.
In 2026, the company plans to launch the Stable by Western Union service, allowing customers in 40 countries to spend stablecoins directly. USDPT will also be listed on licensed cryptocurrency exchanges.
The blockchain will enable Western Union to conduct instant transactions with agents 24/7, helping the company manage liquidity more dynamically and reduce idle balances in accounts.
As a reminder, in October 2025, Western Union announced a pilot project for transactions using stablecoins.