Western Union to roll out Solana-based stablecoin next month

Western Union, one of the biggest firms facilitating money transfers for consumers internationally, is set to release its flagship Solana-based stablecoin next month, CEO Devin McGranahan said during the company’s first-quarter earnings call.

Dubbed the U.S. Dollar Payment Token, or USDPT, the token serves as a settlement alternative to SWIFT across select markets and agent partners. With USDPT, Western Union aims to deliver faster, lower-cost international transfers to 100 million users.

The remittance giant also plans to introduce a Digital Asset Network (DAN) to bridge crypto and fiat, allowing users to convert digital assets into cash through its global footprint, and a USD Stable Card targeting inflation-sensitive markets where customers seek dollar-denominated spending power.

According to McGranahan, the strategy reflects Western Union’s focus on innovation. USDPT and the new network are expected to strengthen its position by linking digital assets with traditional finance.

Western Union has partnered with Crossmint to support the rollout of its USDPT stablecoin, integrating Crossmint’s wallet and payment APIs with Western Union’s Digital Asset Network.

The collaboration will enable fintech platforms to access USDPT, settle transactions on the Solana blockchain, and convert digital assets into local currency through Western Union’s global payout infrastructure across more than 200 countries and 360,000 locations.

Western Union posted adjusted revenue of $983 million in Q1 2026, down about 1% from the prior year. Its Consumer Services segment grew 24% on a GAAP basis. Shares on the NYSE closed at $8.9 after falling nearly 5% last Friday.