Western Union has announced plans to launch its U.S. Dollar Payment Token (USDPT), a dollar-backed stablecoin built on the Solana blockchain and issued by Anchorage Digital Bank, with availability expected in the first half of 2026.
This move marks a significant expansion into digital assets, aiming to leverage Solana's high-speed, low-cost infrastructure to enhance cross-border payments and treasury operations, while integrating with a new Digital Asset Network to provide seamless cash off-ramps via partner wallets and Western Union’s global retail footprint.
The USDPT stablecoin will be pegged 1:1 to the U.S. dollar and will allow users to send, receive, spend, and hold the digital asset through partner exchanges, expanding money movement options for customers, agents, and partners.
The initiative is driven by a shared vision with Solana and Anchorage Digital to modernize financial infrastructure, with Anchorage Digital providing federally regulated stablecoin issuance and digital asset custody solutions.
Western Union's decision follows the passage of the GENIUS Act in mid-2025, which established the first federal regulatory framework for stablecoins, providing clarity on 1:1 reserves and audits, enabling regulated institutions like Western Union to enter the space with compliant operations.
The company positions the launch as a natural evolution of its 175-year history of using technology to connect people, aiming to make financial services more accessible, efficient, and inclusive globally.
This development comes amid a growing trend of traditional financial institutions and fintechs entering the stablecoin market, following announcements from JPMorgan Chase (JPM Coin), PayPal (PYUSD), and Zelle’s parent company, Early Warning Services, which is researching stablecoin use for fast cross-border payments.