Western Union has officially chosen Solana to launch its upcoming stablecoin, the U.S. Dollar Payment Token (USDPT). The move signals the company’s entry into the digital asset space with a focus on speed, cost-efficiency, and accessibility. USDPT, expected to debut in the first half of 2026, will operate on the Solana blockchain and be issued by Anchorage Digital Bank under a federally regulated framework.

According to Western Union, this marks a natural evolution of its long history in financial connectivity, from building the first transcontinental telegraph line in 1861 to now developing blockchain-powered payment rails. Western Union says the USDPT stablecoin will allow users to send, receive, and hold digital dollars, while maintaining the compliance and trust standards that define its brand.

Western Union’s Digital Asset Push

The new initiative introduces two main components: the USDPT stablecoin and the Digital Asset Network. Together, they are designed to bridge the gap between fiat and crypto, allowing both retail users and agents to move funds more seamlessly across borders.

Western Union’s Digital Asset Network will link with partner wallets to create local off-ramps for digital assets, enabling people to cash out in regions where banking access remains limited. This approach blends blockchain efficiency with the company’s traditional cash infrastructure, an area where Western Union has maintained an unmatched global footprint.

Company CEO Devin McGranahan said during the Money 20/20 conference that USDPT will help Western Union “own the economics linked to stablecoins” and give customers faster, cheaper, and more reliable transfer options. The firm plans to list USDPT on partner exchanges, giving users broader access and liquidity while maintaining regulatory oversight.

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Why Solana and Anchorage Were Chosen

Western Union’s choice of Solana is tied to the network’s speed and low transaction costs, both critical for remittances where even small fees matter. Solana’s high throughput allows transactions to settle in seconds, reducing delays that often plague international transfers. Using a public blockchain also introduces greater transparency, helping streamline compliance and reconciliation processes for regulators and partners alike.

The stablecoin will be issued through Anchorage Digital Bank, the first federally chartered crypto bank in the United States. Anchorage will handle custody and reserve management, ensuring USDPT remains fully backed and secure. Western Union emphasized that working with Anchorage aligns with its focus on safety, trust, and compliance.

The company’s move follows similar steps by traditional payment players like PayPal and MoneyGram, both of which have ventured into stablecoin integrations to modernize cross-border settlement systems. However, Western Union’s large retail presence and existing global network could make USDPT one of the first stablecoins with direct links to physical cash access.

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A Step Toward Faster Global Transfers

By building on Solana, Western Union aims to bring stablecoins into everyday use, not just trading venues. The company envisions a world where a dollar sent digitally can be redeemed locally, instantly, and at minimal cost. If successful, USDPT could reshape how remittances and small cross-border payments work, particularly in cash-reliant regions.

While the rollout is expected in early 2026, it represents more than just a technological update. It’s a continuation of Western Union’s long-standing mission to connect people financially, this time through blockchain rails. Whether this shift accelerates broader stablecoin adoption remains to be seen, but one thing is clear: Western Union picking Solana for its stablecoin reflects a turning point in how legacy finance meets the digital future.