As early as next month, Western Union plans to launch USDPT, a stablecoin pegged to the US dollar and built on the Solana blockchain. In late 2025, the business announced that USDPT would be available in the first half of 2026.
CEO Devin McGranahan now claims that, barring last-minute adjustments, the token has entered its last stage of preparation and should launch in May 2026. He confirmed the timetable on a recent earnings call, signaling that Western Union is ready to transition from pilots to a live launch.
How USDPT Will Work on Solana
The Solana blockchain will be used by the “U.S. Dollar Payment Token” (USDPT). Each token will be backed one-to-one by U.S. dollar reserves, and Anchorage Digital Bank will serve as the authorized issuer and custodian.
Western Union selected Solana because it offers high throughput and low transaction fees, which are often below 1 cent per transfer. The company wants those capabilities to enable regular, low-value payments throughout its worldwide network without significantly increasing on-chain expenses.
At launch, Western Union will not market USDPT directly to regular retail customers. Instead, it will use the stablecoin behind the scenes to settle payments with its network of agents in selected countries.
Today, those treasury flows mostly move over SWIFT, which can be slow and limited by banking hours. Western Union says USDPT will let it settle with agents 24/7, including on weekends, and cut some steps from the correspondent banking process.
Digital Asset Network and Cash Access
USDPT will plug into Western Union’s new Digital Asset Network, which links on-chain dollars to the company’s cash pickup and payout infrastructure. The network lets users move digital dollars and then convert them into local currency at more than 360,000 locations in over 200 countries and territories.
Western Union has partnered with Web3 infrastructure firm Crossmint to handle wallet and payment APIs for this system. Crossmint’s tools will help exchanges, fintech apps, and other partners integrate USDPT and route flows into Western Union’s cash network.
Later this year, Western Union plans to launch a “USD Stable Card” that allows consumers to pay with USDPT balances. The firm aims to roll it out in dozens of markets but has not named the first countries.
Over time, users should be able to access USDPT through partner exchanges and wallets, not only through Western Union’s own products.
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