Western Union said it will launch USDPT, a Solana-based dollar-backed stablecoin, in May. CEO Devin McGranahan disclosed the plan during the company’s April 24 earnings call, saying the token is being built for agent settlements rather than consumer payments and will serve as an alternative to SWIFT for internal transfer flows.
USDPT is aimed at treasury movement between agents
The company said USDPT will not debut as a retail product. Its first role is narrower and operational: moving funds across Western Union’s agent network. Western Union plans to deploy the stablecoin in selected countries with key partners, using it to support internal settlements that can run continuously, including weekends and bank holidays.
That puts the token inside the company’s backend payment rail rather than in a customer wallet at launch. A short point. The stablecoin is positioned as infrastructure for treasury and settlement activity, not as a public-facing payment token for everyday spending.
Digital Asset Network links crypto wallets to cash-out locations
Alongside USDPT, Western Union is rolling out its Digital Asset Network, a system designed to connect crypto wallets with the company’s retail and agent infrastructure. McGranahan said the first partner is expected to go live this week.
According to the company, the network will let users convert digital assets into local currency through Western Union locations. The model uses the company’s existing physical network as a bridge between blockchain-based assets and real-world cash access, extending its cross-border infrastructure beyond traditional remittance rails.
Stable Card will target consumer spending in dozens of markets
Western Union also plans to introduce a USD Stable Card later this year. The card is aimed at consumers and will allow users to hold stablecoin balances and spend them globally. The rollout is expected to cover dozens of markets.
McGranahan said the product is intended for regions facing inflation concerns, giving users access to dollar-denominated value with direct spending utility. In product terms, the Stable Card sits on the consumer side, while USDPT and the Digital Asset Network form the settlement and conversion layer underneath.
Quarterly adjusted revenue fell 1% to $983 million
Western Union reported $983 million in adjusted revenue for the quarter, down 1% from a year earlier. Its shares closed at $8.90 on Friday, a decline of 4.6%.
The company has outlined the launch timing, network structure, and intended use cases. It has not disclosed a list of the initial countries for deployment or named additional partners in the material provided.