Western Union is accelerating in digital payments. The group announced USDPT, a US dollar stablecoin based on the Solana blockchain and issued by Anchorage Digital Bank NA. This initiative aims to integrate a regulated digital dollar into an already well-established global network. Through this project, Western Union seeks to improve international settlements while building on existing large-scale infrastructure.
In brief
- Western Union announced USDPT, a US dollar stablecoin based on Solana.
- USDPT will be issued by Anchorage Digital Bank NA, a federally chartered bank.
- The “Stable by Western Union” product will first target the Philippines and Bolivia, before launching in 2026 in more than 40 countries.
- Western Union wants to use USDPT to improve settlements within its global network.
- The launch comes as dollar-backed stablecoins surpass $300 billion.
The USDPT stablecoin at the heart of Western Union’s strategy
Western Union has presented USDPT as a pillar of its new digital initiatives. This stablecoin will notably support “Stable by Western Union”, a payment product intended for consumers. Its first deployment will target the Philippines and Bolivia, before a planned expansion to more than 40 countries in 2026.
In addition, the company plans to rely on its network present in more than 200 countries and territories. The company also claims nearly 100 million users. Thanks to this basis, the stablecoin can gradually be integrated into concrete uses linked to money transfers.
According to Devin McGranahan, CEO of Western Union, USDPT is part of a global payments strategy based on a regulated digital dollar. He declares in a press release :
USDPT strengthens Western Union's role as a global payments platform, integrating a regulated digital dollar directly into our network and creating a more efficient settlement layer that supports our partners, agents and future consumer usage, while preserving the trust and scale that characterize our brand.
Devin McGranahan, CEO of Western Union
Thus, this approach positions USDPT as a settlement tool intended to support the evolution of international money transfers.
Solana chosen to support digital payments
Western Union has chosen the Solana blockchain as its blockchain infrastructure for USDPT. This choice places Solana at the heart of the technical operation of the project. The network serves as support for the dollar-indexed token, while facilitating its integration into existing flows.
At the same time, the use of Solana reflects a desire to modernize certain payment processes. However, Western Union maintains its traditional network as its main base. The stablecoin therefore complements this structure, without replacing it.
Furthermore, the Solana network will play a key role in connecting the group's partners and services. With this approach, Western Union can leverage Solana's capabilities while maintaining its operating model at scale.
A regulatory framework put forward by Anchorage Digital Bank NA
L'USDPT will be issued by Anchorage Digital Bank NAa federally chartered bank which will provide the regulatory framework for the project. Its co-founder and CEO, Nathan McCauley, clarified that integrating a stablecoin into a payment network requires more than technical solutions to ensure faster and more efficient money transfers. He declares:
This requires regulatory compliance and operational rigor, enabling USDPT to operate as a reliable, always-operational financial infrastructure from day one, with the foundation provided by a federally chartered bank.
Nathan McCauley, Co-Founder and CEO of Anchorage Digital
In this context, USDPT enters an already considerable market. The total supply of dollar-backed stablecoins has exceeded $300 billion. Tether and Circle dominate this sector, with approximately $189.6 billion and $77.6 billion. Western Union thus joins other traditional financial players engaged in this evolution.
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