Western Union, known for its global money transfer and payment services, is preparing to launch its dollar-backed stablecoin USDPT on the Solana blockchain next month. The company initially created this token not for individual users; It will be implemented as an alternative solution for the reconciliation of international money transfers in the agency and business partner network. Thus, faster and uninterrupted transaction capability is aimed compared to the traditional SWIFT network.
USDPT as an alternative to SWIFT
Western Union has long been planning to develop its own stablecoin infrastructure. USDPT, the details of which were announced in the second half of 2025 and will be issued by Anchorage Digital Bank, is seen as part of the company’s goal of transforming the global payment architecture around digital assets. Devin McGranahan, who serves as the CEO of Western Union in Turkish, emphasized in the recent earnings call that the company’s process of taking an active role in the digital asset ecosystem has become “no longer a matter of timing, but of scale.”
McGranahan stated that USDPT is at the core of their strategy and stated that it is no longer a matter of time for Western Union to become active in digital assets, and their goals are now focused on how quickly they can scale this technology.
USDPT will not be offered directly to consumers in the first phase. The company positions this token as a fast and intermittent solution that can replace SWIFT in intermediary and inter-agency transactions. Thanks to the Solana infrastructure, transfers will be available 24/7, even on weekends and public holidays when traditional banks are closed.
The issuer of the stablecoin will be the US-licensed Anchorage Digital Bank. With this cooperation, Western Union aims to attract the profits from stablecoin revenues to third parties into its own system; It aims to obtain direct benefits from issuance, clearing difference, transaction fee and reserve returns. In this regard, the company also made an official application for the “WUUSD” brand.
Two new products: Digital Asset Network and USD Stable Card
Western Union plans to accelerate its digital transformation not only with USDPT but also with two new products integrated into the ecosystem. The first of these products, the Digital Asset Network (DAN), will connect crypto wallets to Western Union’s common agent points through a single API. The first DAN partner is scheduled to be integrated into the system at the end of April; It is planned to expand the network with around seven new partners by the end of the year.
With DAN, wallet users will be able to easily convert their digital assets into local currency and use them through Western Union’s global retail network. The company wants to gain a scale advantage over rival crypto projects with this business model, as it operates with hundreds of thousands of representatives in over 200 countries.
The second product, USD Stable Card, was designed as a payment card that allows consumers to hold stablecoins and spend them around the world. The launch is planned to cover many markets by the end of 2026. The company predicts that this card can turn into a practical tool for users, especially in inflation-sensitive markets; However, details about which countries or the card network we cooperate with have not been shared yet.
Competition is accelerating, Solana network stands out
While the total market value of dollar-indexed stablecoins exceeded 300 billion dollars, US-based tokens gained a clearer ground in terms of legislation, thanks to the GENIUS Act, which came into force in 2025. Western Union is not only in this field; It is also among the major financial and technology companies developing stablecoins on Solana.
While PYUSD, issued by PayPal through Paxos, reached billion dollar usage; Fiserv is also working on its own Solana-based stablecoin, FIUSD. Additionally, MoneyGram has completed its USDC integration via the Stellar network; Visa, on the other hand, has made progress in stablecoin compatibility with Solana. Meanwhile, the Solana blockchain processed $650 billion in stablecoin transactions in just one month at the beginning of the year, turning the network into one of the industry’s fastest-growing payment platforms.
Testing USDPT in selected countries during the pilot period will show whether it will create an advantage in market dynamics by reducing both transaction costs and transaction times for Western Union. However, the details of the first business partners and the market where Stable Card will be opened remain confidential for now.
Ultimately, whether this new stablecoin strategy will increase Western Union’s role in digital assets; It will take a clearer shape in the coming periods with widespread use.
