Western Union has launched its USDPT stablecoin on the Solana blockchain, enhancing transaction speeds and efficiency.
Western Union has introduced its own stablecoin, USDPT, utilizing the Solana blockchain, with issuance facilitated by Anchorage Digital, a crypto bank.
This new token is backed by US dollar reserves, enabling Western Union to enhance transaction speeds and reduce reliance on traditional interbank systems that can lead to delays.
According to CEO Devin McGranahan, the launch of a regulated digital dollar will provide a more efficient transaction layer for the company’s partners and agents.
Looking ahead, Western Union intends to roll out the Stable by Western Union service by 2026, allowing customers in 40 countries to spend their stablecoins directly. Additionally, USDPT will be available on licensed cryptocurrency exchanges.
The adoption of blockchain technology will facilitate instant transactions with agents around the clock, enhancing liquidity management and minimizing idle account balances.
Notably, Western Union initiated a pilot project in October 2025 to explore transactions using stablecoins.
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