Western Union to Build Stablecoin Settlement System on Solana, USDPT Targets 2026 Launch

Western Union has confirmed plans to launch a blockchain-based stablecoin settlement system using the Solana network. Announced during the company’s third-quarter earnings call, the initiative will include the creation of a US Dollar Payment Token (USDPT) and a new infrastructure called the Digital Asset Network. Both will be developed in collaboration with Anchorage Digital Bank. Stablecoin Launch Expected in 2026 According to the company, USDPT will go live in the first half of 2026. Customers will be able to access the stablecoin through partner exchanges, similar to how PayPal’s PYUSD is listed on Binance and other platforms. Western Union said the Digital Asset Network will also operate as a global off-ramp for its 150 million customers across 200 countries and territories. Speaking at the Money 20/20 USA conference in Las Vegas, CEO Devin McGranahan explained why Solana was chosen for the project. He said his team had evaluated numerous alternatives before concluding that Solana was the “right choice” to build an institutional-grade platform. Traditional Finance Moves Deeper into Crypto Western Union joins a growing number of traditional payment firms exploring blockchain for remittances. Supporters argue that blockchain technology allows faster, cheaper, and more transparent cross-border transactions compared to conventional payment systems. In recent months, other financial giants have made similar announcements. Zelle’s parent company revealed plans to introduce stablecoins for international payments, while MoneyGram rolled out a USDC wallet for customers in Colombia through its crypto app. Regulatory Clarity Accelerates Adoption The stablecoin industry’s momentum in the US has been fueled by clearer regulations following the passage of the GENIUS Act, signed into law by President Donald Trump in July. McGranahan said the company had previously avoided entering the crypto market due to concerns over volatility and regulatory uncertainty but that the new legislation has opened the door for participation. According to the US Treasury Department, the stablecoin market was valued at $311.5 billion in April and could reach $2 trillion by 2028. Western Union’s move comes roughly three months after it first hinted at stablecoin integration earlier this year, marking a major shift in the remittance leader’s digital strategy.