Western Union Introduces USDPT Stablecoin on Solana

Western Union, one of the world’s largest consumer remittance companies, will introduce a dollar-backed stablecoin in early 2026. This move marks one of the most aggressive blockchain shifts undertaken by a legacy remittance business.

The initiative arrives as payment providers race to integrate stablecoins into existing rails. Visa, Stripe, and PayPal already support USDC or PYUSD across multiple blockchains, but Western Union is building a branded asset and a dedicated conversion network.

According to the press release, the stablecoin, USDPT, will run on Solana and be issued by Anchorage Digital Bank, a federally regulated crypto custodian. Western Union says users can send, receive, hold, and redeem USDPT through partner exchanges and its upcoming Digital Asset Network.

“We are making digital assets usable for everyday remittance customers,” said CEO Devin McGranahan. He said the token will benefit from Western Union’s compliance stack and global payout infrastructure.

Nathan McCauley (CEO, Anchorage Digital), Devin McGranahan (CEO, Western Union), and Sheraz Shere (Head of Payments, Solana Foundation) are set to take the stage in 10 minutes @money2020