Western Union enters the stablecoin market with the launch of USDPT based on Solana as early as next month. At the initial stage, USDPT will not be available to retail customers at all. The token is being developed for internal settlements to speed up transfers between partners within the Western Union network.
The company began promoting the idea a year ago. At the time, it looked like one of several experiments, but now the project has become part of a larger plan. Western Union is essentially trying to rebuild the entire logic of international transfers.
In addition to the stablecoin, this strategy includes two other areas: Digital Asset Network and the payment card USD Stable Card.
Plans to launch USDPT became known in October 2025. The company’s CEO Devin McGranahan confirmed the timeline during the Q1 2026 report on April 24. According to him, the stablecoin occupies a key place in the company’s strategy:
«At the core of our strategy is USDPT, a stablecoin pegged to the US dollar. The question is no longer whether Western Union will work with digital assets, but how quickly we can scale».
According to the company, USDPT is now in the final stages of preparation and could become an alternative to SWIFT for international transfers.
USDPT From Western Union Initially Targeted at Settlements
USDPT will not be launched as a product for regular users. According to McGranahan, the token will primarily serve as an alternative to SWIFT for settlements between Western Union and its agent network in certain countries.
Using blockchain will allow transfers to be made around the clock, including weekends and bank holidays when traditional financial systems are not operating.
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The USDPT token will be issued by Anchorage Digital, a bank with a federal license to store crypto assets. The partnership with Anchorage and Solana Western Union was first announced in October 2025 along with the stablecoin announcement. Later, the company also filed a trademark application for WUUSD, according to Crypto Times.
At Western Union, they expect that USDPT will allow them to earn from flows that previously went to third-party stablecoin issuers. This includes revenue from token issuance, exchange spreads, transaction fees, and profit from reserves.
Additional Products: DAN and USD Stable Card
Digital Asset Network (DAN) will serve as a link between crypto wallets and Western Union infrastructure through a single API. The first DAN partner is expected to connect as early as the week of April 27, and at least seven more participants are planned to be added to the network during 2026.
According to McGranahan, this will allow millions of users to convert digital assets into local currency through Western Union‘s retail network. The company operates in more than 200 countries and has hundreds of thousands of locations, giving it a serious advantage in distribution compared to crypto-oriented projects.
The second product is the USD Stable Card. This payment card will allow users to store stablecoins and spend them worldwide. The launch is expected later in 2026 in several dozen markets at once.
The card is intended to simplify the use of stablecoins in everyday life, especially in countries with high inflation. However, Western Union has not yet disclosed in which countries the launch will begin or which payment system the card will use.
Western Union Enters a Competitive Market
The volume of dollar-pegged stablecoins has already exceeded $300 billion in market capitalization. The market received an additional boost from the GENIUS Act, passed in 2025, which made regulation of such assets in the US more transparent.
Western Union is not entering this segment alone. PayPal with its PYUSD, issued through Paxos, has already reached multibillion-dollar figures. Fiserv is also developing its own stablecoin FIUSD based on Solana. MoneyGram has integrated USDC from Circle into its mobile app via the Stellar blockchain, and Visa has expanded support for stablecoin settlements by adding Solana.
Solana itself continues to gain momentum. Earlier this year, the network processed about $650 billion in adjusted stablecoin volume in just one month, making it one of the fastest-growing platforms by transaction volume.
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The pilot launch of USDPT in several countries will be the first test for Western Union. It will show whether the new tool can really reduce costs and speed up settlements enough to justify switching to new infrastructure and strengthen its competitive position.
Many details remain undisclosed. The first agent partners, the first wallet connected to DAN, as well as the launch markets and payment network for the Stable Card are still unknown.
These are the very factors that will determine whether Western Union‘s stablecoin strategy can reach significant scale and deliver the effect the company is aiming for.
