- Western Union will issue USDPT on Solana with Anchorage Digital Bank to enhance cross-border digital payments.
- The initiative aligns with the 2025 GENIUS Act, ensuring one-to-one reserves and full regulatory compliance.
- Western Union joins PayPal and MoneyGram in adopting blockchain to modernize international money transfers.
Western Union plans to launch a U.S. Dollar Payment Token (USDPT) and a Digital Asset Network, marking its entry into blockchain-powered remittances. The initiative, expected in the first half of 2026, introduces a dollar-backed stablecoin issued by Anchorage Digital Bank and built on the Solana blockchain.
The project aims to merge digital asset utility with Western Union’s extensive cash network, offering users the ability to send, receive, spend, and hold USDPT while maintaining compliance oversight. According to the company, the stablecoin will be available through partner exchanges and supported wallets, expanding payment options for roughly 100 million customers worldwide.
Solana’s Speed and Scalability Drive Western Union’s Choice
Western Union selected Solana for its high throughput, low transaction fees, and near-instant settlement capabilities. Solana can handle thousands of transactions per second, aligning with Western Union’s reported 70 million transfers each quarter. This choice supports the company’s effort to build a transparent and auditable settlement network using a public blockchain.
The firm’s Digital Asset Network will integrate with self-custody wallets and partner exchanges, linking digital transfers to its retail cash agents across more than 200 countries. Through approximately 600,000 locations, customers will convert digital assets into local currencies, maintaining access to cash where it remains essential. This infrastructure keeps compliance controls intact while improving settlement times and cost efficiency.
Anchorage Digital and Regulatory Framework
Anchorage Digital Bank, the only federally chartered crypto bank in the U.S., will issue and manage USDPT reserves. Western Union’s partnership with Anchorage aligns with the GENIUS Act, enacted in July 2025, which sets federal standards for payment stablecoins. The law mandates one-to-one reserves in cash or short-term Treasuries, monthly disclosures, and anti-money laundering compliance.
Anchorage’s platform, combined with U.S. Bank’s reserve custody, ensures that USDPT remains fully backed and compliant. Western Union’s approach reflects an emphasis on secure infrastructure and adherence to regulatory requirements, addressing the evolving oversight of digital dollar tokens in the U.S.
Expanding Competition Among Payment Networks
Western Union joins major financial firms integrating blockchain into payment systems. PayPal’s PYUSD, issued by Paxos, expanded to Solana in May 2024, while Stripe reintroduced stablecoin payments supporting USDC on Solana, Ethereum, and Polygon. Meanwhile, MoneyGram adopted Circle’s USDC on Stellar through Crossmint’s wallet system to enable blockchain-based remittances.
Analyst Eleanor Terret noted that Western Union’s move represents an industry shift, as legacy money-transfer models adapt to stablecoin technology. With the USDPT initiative, the company positions itself within a growing sector where stablecoins serve as regulated, dollar-linked settlement tools across digital and traditional payment modes.
