Western Union Launches USDPT Stablecoin on Solana

Western Union, the global remittance giant, announced the launch of USDPT, a U.S. dollar-denominated stablecoin on the Solana blockchain, on Monday. The token, fully backed by U.S. dollars and issued by Anchorage Digital Bank N.A., the first federally regulated crypto bank in the United States, aims to enable near-instant, 24/7 settlements across the company's payment network in more than 200 countries.

USDPT integrates into Western Union's systems for treasury management, agent clearing, and cross-border transactions, reducing the need for prefunded balances and idle liquidity in traditional setups. The company plans an initial rollout in the Philippines and Bolivia, with broader access through licensed virtual currency exchanges. Fireblocks provides the wallet, settlement, and operations infrastructure. Western Union also outlined a Digital Asset Network to connect exchanges and custodians to its payout and liquidity systems.

A consumer-facing service, Stable by Western Union, is set for launch in 2026 across more than 40 countries, including Mexico, Argentina, Colombia, and the Philippines. This feature will allow users to spend stablecoin-linked funds tied to cash-based services.