Western Union to Launch Stablecoin on Solana With Anchorage Digital

The U.S. dollar-pegged token is expected to become available in the first half of 2026.

• Western Union plans to launch a stablecoin called the U.S. Dollar Payment Token (USDPT) for its payment network next year.
• The stablecoin will be issued by Anchorage Digital on the Solana blockchain, aiming for low-cost, fast settlements.
• This move follows the trend of traditional finance firms integrating stablecoins, with competitors like MoneyGram and PayPal already adopting similar technologies.

Western Union (WU) is planning to launch a stablecoin for its 100 million-user payment network, becoming the latest traditional finance firm tapping blockchain rails to power global transfers.

The company, known for cross-border payments and cash network among retail customers, plans to roll out the U.S. Dollar Payment Token (USDPT) in the first half of next year, according to a Tuesday press release.

The token will be issued by Anchorage Digital, a federally regulated digital asset bank, using the Solana network, a public blockchain designed for low-cost, fast settlements.

“This partnership allows us to bring the benefits of digital dollars to our network and reach virtually every corner of the globe,” Western Union CEO Devin McGranahan said in a statement. “With Anchorage Digital as our regulated partner and Solana’s blockchain technology, we’re taking a meaningful step toward faster, more efficient, and more inclusive payments for our customers.”

The move come as stablecoins, a $300 billion class of crypto tokens tied to fiat currencies like the U.S. dollar, are increasingly embedded into global payment channels. Stablecoins seek to offer a cheaper, faster alternative to traditional rails, and they are becoming popular among businesses and individuals for remittances and cross-border transactions. Their adoption got a boost in the U.S. with the stablecoin-focused GENIUS Act, bringing clear regulation for the sector and issuers.

Western Union is the latest player to incorporate stablecoins to its business. Rival firm MoneyGram’s upgraded application is underpinned by Circle’s USDC stablecoin, the Stellar (XML) blockchain and wallet firm Crossmint. Payments firm PayPal’s stablecoin, issued by Paxos, has grown to $2.7 billion since its launch in 2023. Stripe, meanwhile, is building its own stablecoin infrastructure with a payments-focused chain.