Western Union’s Game-Changer: Why Solana Won the USDPT Stablecoin Race

Traditional finance giant makes blockchain move that could reshape global payments

The Infrastructure Decision

Western Union didn't just dip toes in crypto waters—they dove headfirst into Solana's ecosystem. The 170-year-old money transfer behemoth bypassed established players for a blockchain known for speed and scalability. Their USDPT stablecoin deployment signals a seismic shift in how legacy finance views digital assets.

Speed Over Sentiment

Solana's transaction throughput crushed the competition. While other chains promise decentralization, Western Union needed performance that could handle global remittance volumes. The choice wasn't about ideology—it was about infrastructure that actually works at scale.

The Bottom Line Play

Cutting settlement times from days to seconds isn't just convenient—it's a massive cost saver. Western Union's move exposes how traditional banking rails have been overcharging for slow service for decades. Another case of legacy finance realizing they've been running a toll bridge that technology just made obsolete.

When a company that built its fortune on moving money the old way bets big on blockchain, maybe those Wall Street skeptics should check their spreadsheets again.

TLDR

• Western Union has chosen Solana blockchain to launch its USDPT stablecoin and Digital Asset Network in the first half of 2026
• The stablecoin will be issued by Anchorage Digital Bank and available on partner exchanges for Western Union’s 150 million customers across 200+ countries
• CEO Devin McGranahan said Solana was selected after comparing multiple blockchain options for building an institutional-ready platform
• The move follows passage of the GENIUS Act in July 2025, which provided regulatory clarity for stablecoins in the United States
• Digital wallets now account for over 50% of Western Union’s digital transactions as the company expands into crypto services

Western Union announced it will build its stablecoin payment system on the solana blockchain. The company revealed the plans during its third-quarter earnings call and at the Money 20/20 USA conference in Las Vegas.

JUST IN: Western Union to launch stablecoin on Solana in 2026. pic.twitter.com/w0rJDyqVMs

— Watcher.Guru (@WatcherGuru) October 28, 2025

The financial services company will launch the US Dollar Payment Token (USDPT) in the first half of 2026. Anchorage Digital Bank will issue the stablecoin as part of Western Union’s Digital Asset Network.

CEO Devin McGranahan told attendees at Money 20/20 that his team evaluated multiple blockchain platforms. After comparing alternatives, they determined Solana was the right choice for an institutional-ready stablecoin platform.

The USDPT stablecoin will be available through partner exchanges. This approach mirrors how PayPal’s PYUSD stablecoin operates on platforms like Binance.

Western Union serves more than 150 million customers across over 200 countries and territories. The Digital Asset Network will provide these customers with a cash off-ramp for the remittance platform.

Digital Wallet Growth Drives Crypto Push

McGranahan reported that digital wallets and account-based payouts now represent over 50% of Western Union’s digital transactions. The company has been exploring digital asset integrations for several months.

Western Union previously worked with Ripple starting in 2018 for cross-border transfer experiments. The company has maintained involvement in blockchain technology for remittances over the years.

Users will be able to send, receive, spend and hold USDPT through Western Union’s platform. The company stated its global compliance and risk management systems will support these transactions.

Regulatory Changes Enable Stablecoin Plans

McGranahan said Western Union initially avoided cryptocurrency due to market volatility concerns. Regulatory uncertainty and customer protection issues also kept the company on the sidelines.

The passage of the GENIUS Act changed Western Union’s approach to crypto. President Donald TRUMP signed the stablecoin-focused legislation into law in July 2025.

The act provided regulatory clarity for stablecoin issuers in the United States. This framework gave Western Union confidence to MOVE forward with its digital asset plans.

Western Union first hinted at stablecoin integration plans in a July 2025 Bloomberg interview. The company officially announced its Solana partnership three months later in October.

The US Treasury Department valued the stablecoin market at $311.5 billion in April 2025. Treasury estimates suggest the market could reach $2 trillion by 2028.

Other payment companies have made similar moves into stablecoins. The parent company of Zelle announced plans for stablecoins to enable faster cross-border payments in October 2025.

MoneyGram integrated USDC wallet functionality into its Colombia crypto app in September 2025. The company offers locals access to Circle’s USDC stablecoin through the service.

Western Union expects USDPT to launch during the first six months of 2026.