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Western Union plans to launch a Solana-based greenback stablecoin in 2026 via Anchorage Digital, extending its transfer into digital funds.
The brand new token, referred to as the US Greenback Fee Token (USDPT), can be a part of a community that bridges digital and conventional cash, the corporate stated in an announcement.
It stated the community will allow clients to maneuver worth extra simply between crypto wallets and money, a step towards sooner, cheaper cross-border transfers.
“Western Union’s USDPT will permit us to personal the economics linked to stablecoins,” CEO Devin McGranahan stated, calling it a key milestone within the firm’s digital shift.
USDPT is anticipated to launch within the first half of 2026.
It is official:@WesternUnion, the world’s largest cash switch enterprise, is constructing solely on Solana. 🔥 pic.twitter.com/dJMnKN5EY4
— Solana (@solana) October 28, 2025
Western Union additionally stated it is going to launch a “Digital Asset Framework,” which is able to convey collectively the agency’s world community of companions together with wallets and pockets suppliers to provide customers “entry to seamless entry to money off-ramps for digital property.”
New Stablecoin And Framework Will “Make Monetary Providers Accessible”
Western Union constructed the primary telegraph line in 1861, and is now trying to modernize its community by introducing blockchain-powered transactions which can be capable of clear in seconds across the clock.
“Digital commerce has resulted on the planet coming nearer collectively, however entry to money stays localized,” the corporate stated. “Western Union anticipates that its USDPT stablecoin and Digital Asset Community have the potential to basically reshape how cash strikes worldwide.”
Executives from the agency stated that the transfer can be a return to the corporate’s roots of connecting folks via expertise, simply with extra fashionable rails.
Stablecoin Market Nonetheless Predominantly Hosted On Ethereum
Western Union stated that the choice to construct on the Solana community and difficulty its token via Anchorage Digital was as a result of a shared imaginative and prescient “of modernising monetary infrastructure and increasing digital asset adoption on a worldwide scale,” whereas nonetheless complying with laws.
Stablecoin issuance by blockchain (Supply: DefiLlama)
Western Union’s alternative of community deviates from the trade norm, as many stablecoin issuers have chosen the Ethereum community to deploy their tokens.
Information from DefiLlama reveals that the Ethereum community has a 53.51% share of the stablecoin market. The subsequent-biggest share of 25.81% goes to Tron. Solana takes third place with its considerably smaller 4.9% market share.
That’s at the same time as Solana holds a technical edge over Ethereum. Information from Chainspect reveals that Solana is ranked the second-fastest blockchain by way of transactions per second (TPS). The information reveals that Solana has a theoretical TPS of 65,000 tx/s and a real-time TPS of 767.1 tx/s.
Ranked because the Twentieth-quickest blockchain community, Ethereum has a theoretical TPS of 178.6 tx/s and a real-time TPS of 16.91 tx/s. Nevertheless, Ethereum does have the help of layer-2 networks resembling Optimism, Arbitrum and others, which boosts speeds within the ETH ecosystem whereas additionally slashing transaction charges.
USDPT Enters A Aggressive Stablecoin Market
USDPT will face some sturdy competitors market leaders together with Tether’s USDT and Circle’s USD Coin (USDCC). USDT is the most important stablecoin out there with a capitalization of greater than $183 billion, whereas USDC’s market cap stands at over $75 billion.
Circle additionally introduced yesterday that its Arc blockchain’s testnet has gone dwell, with a number of main corporations together with BlackRock, WisdomTree, and others signing as much as check the community.
Western Union will compete with the likes of PayPal and MoneyGram as nicely, which have each ventured into the stablecoin area.
PayPal launched its personal dollar-backed stablecoin with Paxos in 2023 and has embedded the token in its remittance app. In the meantime, MoneyGram has launched a pockets with help for USDC.
Along with that, bank-led networks are testing stablecoin payouts for worldwide transfers.
The rising curiosity in stablecoins comes after the trade gained regulatory readability following US President Donald Trump’s signing of the GENIUS Act into regulation in July.
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