Western Union is set to launch its USDPT stablecoin on Solana next month, with issuance handled by Anchorage Digital Bank. The token is not being introduced as a retail product at the start. Instead, the company is positioning it as a settlement rail for intermediaries and agency partners, targeting cross-border payment flows that currently rely on slower legacy infrastructure.
USDPT is aimed at partner settlement first
CEO Devin McGranahan said on a recent earnings call that Western Union’s move into digital assets is no longer about deciding when to enter, but about how fast the company can scale. Western Union sees USDPT as a core element in shifting its global payments system toward digital assets, and said more details about the token will be outlined in the second half of 2025.
On Solana, the system is expected to run 24/7, including weekends and public holidays when banks are closed. That matters for a company built around international money movement. At launch, USDPT will be used behind the scenes between partners rather than offered directly to end users, with the stated goal of providing a faster settlement option outside parts of the SWIFT-based process. Western Union has also filed a trademark application for the “WUUSD” brand.
Two related products are also in development
Western Union’s broader digital asset plan includes the Digital Asset Network (DAN), which is designed to connect crypto wallets to the company’s global retail footprint through a single API. The first DAN partner is expected by the end of April, and Western Union is targeting around seven partners by year-end.
Through DAN, wallet users would be able to convert digital assets into local currency and access funds through Western Union’s retail network. The company says it operates in more than 200 countries with hundreds of thousands of agents, and it intends to use that reach as a distribution advantage for its crypto-linked services.
The second product is USD Stable Card, a payment card built to let consumers hold and spend stablecoins globally. Western Union expects to launch the card in multiple markets by late 2026. It has described the product as especially useful in inflation-prone economies, though it has not named the countries involved or the card networks that will support it.
Western Union enters a crowded Solana stablecoin field
The company is entering a market that is already expanding quickly. According to the source material, the total market capitalization of dollar-backed stablecoins has exceeded $300 billion, while the GENIUS Act, effective from 2025, has given US-based tokens a clearer regulatory framework.
Other major firms are already active. PayPal’s PYUSD, issued through Paxos, has reached adoption at the billion-dollar level. Fiserv is developing its own Solana-based stablecoin, FIUSD. MoneyGram has completed a USDC integration on Stellar, and Visa has expanded its stablecoin compatibility with Solana. In a single month at the start of the year, Solana processed $650 billion in stablecoin transactions, putting the network among the faster-growing payment platforms in the sector.
Western Union plans to test USDPT in selected markets during its pilot phase. Those results will show whether the company can cut transaction costs and processing times enough to improve its position. The first partners for the rollout, along with the launch geographies for the Stable Card, have not yet been disclosed.