Market News

Western Union Launches Solana-Based Stablecoin USDPT in Partnership with PayPal

Western Union is set to redefine cross-border transactions with the launch of its US Dollar Payments Token (USDPT), a stablecoin powered by the Solana blockchain.

Scheduled to go live in the first half of 2026, this initiative aims to provide customers with faster, cheaper, and more transparent remittance services.

Western Union joins other major players like PayPal and Fiserv, both of which have already opted for Solana to enhance their stablecoin programs.

The USDPT will be issued by Anchorage Digital Bank, allowing users to send and receive funds internationally through partner exchanges while minimizing local currency risks.

This shift towards digital assets marks a significant evolution for Western Union, a legacy company founded in 1851, as it embraces modern fintech solutions to streamline money transfers.

The choice of the Solana platform is driven by its high throughput and low transaction fees, which are essential for cost-effective remittance transfers.

With an extensive network of over 600,000 agents in more than 200 countries, Western Union aims to build a digital asset network that connects crypto wallets to cash pick-up locations.

As competitors like MoneyGram and PayPal explore similar blockchain integrations, Western Union’s stablecoin initiative positions it as a pioneer in making digital currencies accessible for everyday transactions.

By bridging the gap between crypto and traditional cash systems, USDPT could unlock new financial opportunities, particularly in markets with low banking penetration.

Overall, this development highlights the ongoing shift in the payments landscape, with legacy firms increasingly leveraging blockchain technology to meet evolving consumer needs.