Western Union to Launch Stablecoin on Solana Blockchain, Sparking Fresh Buzz in 2026
Jakarta, Pintu News – Western Union, one of the world’s largest remittance companies, will launch a stablecoin backed by the American dollar as early as 2026. The move is one of the most aggressive shifts to blockchain technology ever made by a traditional remittance company.
This initiative comes amid competition among payment service providers to integrate stablecoins into their existing systems. Currently, Visa, Stripe, and PayPal already support USDC or PYUSD on various blockchains.
However, Western Union chose to build its own branded digital assets as well as a dedicated conversion network.
USDPT in Solana with Anchorage Digital Bank
According to a press release, the stablecoin named USDPT will run on the Solana (SOL) network and be issued by Anchorage Digital Bank, a federally regulated crypto custodian.
Western Union stated that users will be able to send, receive, store and exchange USDPT through partner exchanges as well as the soon-to-be-launched Digital Asset Network.
“We are making digital assets usable by everyday remittance customers,” said CEO Devin McGranahan. He added that the token will benefit from Western Union’s compliance systems and its global payments infrastructure.
The selection of the Solana network was based on its low transaction costs and high transaction processing capabilities. It can settle transactions in seconds and supports sub-cent remittances, making it an economical solution for small-scale remittances. Such performance is key to Western Union’s strategy, as high fees and slow settlement processes are still major issues in the remittance industry.
Through the Digital Asset Network, users can convert USDPT or other supported tokens into local currency. More than 600,000 Western Union agents will participate, covering more than 200 countries and territories. Customers can send tokens from digital wallets and collect cash at retail locations-without the need to have a bank account.
600,000 Cash Collection Location
Other payment companies have also started to expand their crypto-to-cash conversion services. MoneyGram, for example, is following a similar path. In 2025, it launched a next-generation mobile app in Colombia that uses USDC on the Stellar network.
The app allows users to receive payments in the form of stablecoins and cash them out through MoneyGram retail partners. Meanwhile, PayPal is launching PYUSD in 2023 and expanding its off-ramp coverage through licensed partners in the United States and Europe.
Analysts think that the Western Union model could push the use of stablecoins to a wider market. In developing countries, cash still dominates, so a crypto-to-cash bridge through physical locations could be a practical solution for the unbanked.
Industry researchers note that Western Union’s presence in rural areas and second-tier cities is an advantage over competitors that only operate digitally.
Western Union will derive revenue from various sources, including token issuance, exchange rate differences, transaction fees, and agent commissions. This is in contrast to Visa and Stripe, which only provide neutral infrastructure and do not issue tokens or profit from reserve funds.
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Trial access is planned to begin in the first half of 2026. However, this strategy also has risks. Customers must learn how to use digital wallets, understand the concept of stablecoins, and trust the new product. In addition, Western Union must comply with different regulations in each market, including MiCA rules in Europe and certain restrictions in Asia.
Market Movements
Western Union shares rose 6.5% on the day of the announcement, reflecting investor optimism over the potential for new digital revenue. However, overall, the company’s shares are still down around 10.4% since the start of the year, signaling long-term growth challenges.
Meanwhile, the price of Solana is trading around $194, down about 1.9% compared to the previous day, following the general crypto market volatility, including that of Bitcoin and Ethereum .
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- BeInCrypto. Western Union Introduces USDPT Stablecoin on Solana. Accessed on October 30, 2025
- CoinGape. $2.6B Western Union Announces Plans for Solana-Powered Stablecoin by 2026. Accessed on October 30, 2025
- Coinspeaker. Western Union to Launch USDPT Stablecoin on Solana by Mid-2026. Accessed on October 30, 2025
*Featured Image: 99 Bitcoins
