Western Union said it will launch a dollar-backed stablecoin and build a new crypto payments network on Solana, a move that could reshape the way the company moves money across borders.
According to company filings and press releases, the token will be called USDPT and is scheduled for release in the first half of 2026. Anchorage Digital Bank will issue the token, reports show.
Western Union turns to Solana and Anchorage Digital Bank
Based on reports, Western Union plans a “Digital Asset Network” that will allow users to send, receive, hold and spend USDPT through its global network of agents.
The company serves more than 100 million users in more than 200 countries and territories. Some sources put the user base at 150 million, which helps explain why Western Union chose a blockchain built for high performance.
Solana was chosen for its low transaction costs and its ability to handle many operations per second.
The technical partners have already been named. Anchorage Digital Bank, which has US federal supervision, will custody and issue USDPT.
.@Western Union USDPT and Digital Asset Network, built on Solana.
Changing the way the world’s money moves.https://t.co/FVobqBOUPA pic.twitter.com/RlHvOC3E6Z
– Solana (@solana) October 28, 2025
Information They say Western Union will use its agent locations to convert between fiat cash and stablecoin, giving people on both sides of a transfer a way to get real dollars or dollar tokens. That hybrid model aims to combine a familiar cash network with token rails.
What this means for Solana and remittances
Market observers say this is an important vote of confidence for Solana. If millions of Western Union transfers start flowing through token rails, Solana could see an increase in transactions and demand for its native token, SOL, to pay fees.
In the meantime, questions remain. Will the chain be able to cope with the scale involved in Western Union’s reach? One analysis asked if Solana can handle 100 million users sending dollar tokens around the world.
Scalability testing and stress testing will be important, and Western Union’s implementation plans will likely be rolled out gradually to markets to reduce risk.
SOL market cap currently at $106 billion. Chart: TradingView
Regulatory and Custody Settings
According to regulators and industry observers, stablecoins face strict oversight in many countries. Western Union plan depends on regulatory approvals and clear custody agreements.
Anchorage’s regulated status helps, but local rules in some markets could delay or limit service. The reports also point to the need for strict reservation practices, audits and consumer protections before full public use.
Western Union is pitching the initiative as a way to modernize payments while maintaining control over the token economy.
The company says a managed stablecoin could reduce costs and speed up settlement on certain brokers. Analysts will look at remittance corridors where over-the-counter withdrawal is still common (places like the Philippines) to see how quickly users accept token-based transfers.
Featured image from Social Press, chart from TradingView
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