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Western Union is preparing to dive into the digital asset space with its first-ever stablecoin, marking a major shift for the global payments leader.
The company revealed plans to release USDPT, a dollar-pegged token built on the Solana blockchain, as part of a broader “Digital Asset Network” initiative set to debut in 2026.
The move follows strong third-quarter results and a surge in digital wallet use, which now accounts for more than half of Western Union’s online transactions. CEO Devin McGranahan said the company has been laying the groundwork for “digital asset–enabled solutions” that could streamline international payments.
According to the announcement, users will be able to send, receive, spend, and store USDPT through Western Union’s platform, with security and compliance backed by the firm’s extensive global network.
The token will be issued by Anchorage Digital Bank and is expected to be listed on partner exchanges once launched.
While this marks Western Union’s first official stablecoin rollout, the company isn’t new to blockchain. It has experimented with crypto-powered remittances for years — including early pilots with Ripple dating back to 2018. McGranahan said recent policy changes like the GENIUS Act have further encouraged the company to explore how stablecoins can reduce costs and boost speed for global money transfers.