- Western Union launched USDPT on Solana as its first on-chain settlement move.
- Initial rollout of USDPT is in Bolivia and the Philippines, targeting 130 million users.
- USDPT will connect to licensed crypto exchanges and Western Union’s liquidity network.
Western Union has launched USDPT, a US dollar-backed stablecoin built on the Solana blockchain. This marks the company’s first direct move into blockchain-based payments and on-chain settlement.
USDPT is issued by Anchorage Digital Bank, the first federally regulated crypto bank in the US. Fireblocks provides wallet and settlement infrastructure, supporting transaction flow across the network.
The stablecoin is fully backed by US dollars and designed for real-world payments. It enables 24/7 settlement without delays. Lily Liu, President of the Solana Foundation, said,
“Solana’s high-throughput, low-latency design enables assets like USDPT to move with the speed and reliability required for real-world financial settlement, supporting global payments without interruption.”
Initial Rollout Targets Key Remittance Markets
USDPT is first being rolled out in Bolivia and the Philippines, giving access to around 130 million people. Western Union plans to expand the stablecoin to more than 40 countries in 2026.
The company is integrating USDPT directly into its existing payment corridors instead of treating it as a separate crypto product. This allows partners and agents to settle transactions instantly while reducing idle capital across the network.
Western Union currently serves over 150 million customers across more than 190 countries. The stablecoin operates within this network to improve settlement speed and liquidity.
Stablecoin Push Gains Momentum Across Industry
The move follows rising interest in stablecoins after the GENIUS Act was passed in July. Other payment firms have already started similar efforts. MoneyGram launched USDC services in Colombia, while Zelle is preparing stablecoin-based cross-border transfers.
The global stablecoin market is valued at $322 billion and is projected to exceed $2 trillion by 2030. This growth is pushing traditional payment companies to adopt blockchain infrastructure.
Remittance corridors are also expanding rapidly. Transfers between the US and Central America are rising, while routes within Latin America remain underdeveloped, creating new opportunities for blockchain-based settlement.
USDPT Expansion via Anchorage
Notably, USDPT will also be connected to licensed crypto exchanges and Western Union’s broader liquidity network. The company is also building a Digital Asset Network to link exchanges and custodians directly to its payment system.
Planned use cases include treasury operations, agent settlement, and a consumer-facing product called Stable by Western Union, expected to launch in 2026 across more than 40 countries.
The system allows near-instant settlement between Western Union and its global agents. This reduces delays and improves capital efficiency across the network.
Related: Western Union Set to Launch a Stablecoin on Solana in May 2026
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