Western Union is taking a major step into blockchain technology, revealing that its new Digital Asset Network and US Dollar Payment Token (USDPT) stablecoin will be built on the Solana blockchain.
The global remittance giant expects the project to roll out during the first half of 2026, marking its most significant move yet toward digital asset integration.
The announcement came during Western Union’s third-quarter earnings call and was later confirmed at the Money 20/20 USA conference in Las Vegas.
“For 175 years, we’ve been connecting people, moving $150 billion a year. Digital assets are the next evolution. We looked at alternatives and came to the conclusion that Solana was the right choice,” said Devin McGranahan, Western Union’s CEO.
Western Union USDPT Stablecoin: What to Expect
The US Dollar Payment Token (USDPT) will serve as Western Union’s native stablecoin, designed for faster, cheaper, and more transparent global transfers.
The company says users will be able to access USDPT through partner exchanges, similar to PayPal’s PYUSD, which is already listed on several crypto exchanges including Binance.
Western Union’s Digital Asset Network, developed in collaboration with Anchorage Digital Bank, will serve as the core settlement layer of this new ecosystem.
It will allow its 150+ million customers to convert digital assets into cash and move funds easily across 200+ countries and territories, leveraging Western Union’s massive global footprint.
Why Solana Was Selected
Western Union’s decision to build on Solana shows growing confidence in the blockchain’s speed, scalability, and low transaction fees, which are essential features for handling billions in cross-border transfers annually.
McGranahan noted that his team evaluated multiple blockchain options before settling on Solana as the “institutional-ready” foundation for their digital settlement network.
The choice places Western Union among a growing number of major financial players integrating Solana’s technology for payments and settlements.
The company’s move also highlights a broader shift among traditional payment networks toward blockchain-powered remittance systems. Advocates argue that blockchain can drastically reduce transaction times and costs, especially for international transfers.
Notably, until recently, Western Union had avoided entering the crypto space, citing concerns about volatility, regulation, and customer protection.
However, McGranahan said that the GENIUS Act, passed earlier this year, provided a clearer regulatory framework for digital assets, paving the way for the company’s new initiative.
Read also: Top fintechs and crypto firms partner to launch global dollar network
Stablecoin Market Set for Massive Growth
According to the U.S. Treasury Department report, the global stablecoin market was valued at $311.5 billion in April 2025 and could surpass $2 trillion by 2028. As of October 2025, the global stablecoin market cap has surpassed $310 billion.
Western Union’s entry into this rapidly growing sector shows its commitment to modernizing its cross-border payment infrastructure.
The integration of stablecoins could allow the company to compete with blockchain-native platforms like Tether, Circle, and PayPal, all of which have made strides in digital remittance and settlement solutions.
