Western Union just announced they’re building their stablecoin system on Solana, which is a pretty big deal for both the payments giant and the blockchain. The company revealed during their earnings call last week that they’ll launch the US Dollar Payment Token (USDPT) sometime in the first half of 2026.
They’re partnering with Anchorage Digital Bank to build what they’re calling the Digital Asset Network. This will basically act as a cash off-ramp for Western Union’s massive customer base, over 150 million people spread across more than 200 countries.
Western Union CEO Devin McGranahan said at the Money 20/20 conference in Las Vegas that his team looked at a bunch of different blockchain options before deciding Solana was the “right choice” for building an institutional-grade stablecoin platform.
The stablecoin will work similarly to PayPal’s PYUSD; it’ll be listed on partner exchanges so customers can easily access it. Western Union plans to make it available through multiple platforms to maximize reach.
This move comes after the GENIUS Act got signed into law in July, which finally gave stablecoin companies clear regulatory guidelines in the US. McGranahan admitted Western Union stayed away from crypto before because of volatility concerns and regulatory uncertainty, but that legislation changed everything.
The US Treasury thinks the stablecoin market could hit $2 trillion by 2028, up from about $311 billion in April. Western Union first hinted at stablecoin plans back in July.
Conclusion
Western Union selected the Solana blockchain for the USDPT stablecoin and Digital Asset Network, launching in the first half of 2026, partnering with Anchorage Digital to serve 150 million customers globally.
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