Western Union Enters Blockchain Era with USDPT Stablecoin
Western Union has officially chosen the Solana blockchain to power its upcoming Digital Asset Network and USDPT stablecoin, marking a major milestone in the company’s transition toward blockchain-based remittances.
The financial giant revealed during its Q3 earnings call that the USDPT stablecoin system will launch in the first half of 2026, providing access through partner exchanges to increase global usability — a model similar to PayPal’s PYUSD, which is already listed on major exchanges like Binance.
“After evaluating multiple alternatives, we concluded that Solana is the right choice for building an institutional-ready stablecoin platform,” said Devin McGranahan, CEO of Western Union, during the Money 20/20 USA Conference in Las Vegas.
Why Solana Was Chosen for Western Union’s Blockchain Shift
Solana’s high transaction speed, scalability, and low-cost network have made it a leading choice for enterprises seeking efficient blockchain infrastructure. According to McGranahan, Solana offers the speed and stability necessary to process millions of cross-border transactions for Western Union’s 150 million customers across 200 countries and territories.
The Digital Asset Network will act as a cash off-ramp, allowing users to easily convert between fiat and digital currencies, while maintaining compliance with global regulations through partnerships with Anchorage Digital Bank.
“We are building an infrastructure that brings the transparency and efficiency of blockchain to one of the world’s largest remittance networks,” said a Western Union spokesperson.
Traditional Finance Accelerates Blockchain Adoption
Western Union’s move follows a broader trend of payment companies embracing stablecoins for international settlements. In recent months, Zelle’s parent company announced a stablecoin initiative for cross-border transfers, and MoneyGram integrated USDC wallets in Colombia to offer crypto-enabled remittance services.
The momentum comes after the GENIUS Act, signed into law in July, provided the first comprehensive U.S. regulatory framework for stablecoins. This legislation has prompted traditional institutions to enter the crypto ecosystem with renewed confidence.
According to the U.S. Treasury Department, the global stablecoin market was valued at $311.5 billion in April 2024 and could surpass $2 trillion by 2028. Western Union’s planned deployment positions it among the largest corporate entrants into blockchain-based settlement systems.
“We initially stayed out of crypto due to volatility and unclear rules,” McGranahan admitted, “but with the new regulatory landscape, we can now safely innovate for our global customer base.”
With Solana’s integration, Western Union is not just entering the crypto space — it’s redefining the future of international payments by blending legacy finance reliability with next-generation blockchain efficiency.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.