Western Union announces USDPT dollar stablecoin on Solana for cross‑border settlement

Western Union said its dollar-backed stablecoin, USDPT, is on track to launch in May on Solana as a new rail for cross-border settlement. (coindesk.com) (westernunion.com) Chief Executive Devin McGranahan said on Western Union’s April 24, 2026 earnings call that the company expects to launch the stablecoin next month. Western Union reported first-quarter revenue of $983 million that day, flat on a generally accepted accounting principles basis from a year earlier. (coindesk.com) (markets.ft.com) A stablecoin is a digital token designed to hold a fixed value, usually one U.S. dollar, so companies can move money on blockchain networks without the price swings of bitcoin or ether. Western Union is aiming that tool first at settlement between institutions and agent partners, not at retail remittance customers. (westernunion.com) (decrypt.co) Western Union said in October 2025 that USDPT would be built on Solana and issued by Anchorage Digital Bank. The company also said the token would support treasury operations and expand payment options for customers, agents, and partners. (westernunion.com) The company is pairing the token with a Digital Asset Network that links crypto wallets to Western Union’s payout system. Crossmint said in March that the network is designed to let users convert digital dollars into local currency through more than 360,000 collection points worldwide. (prnewswire.com) (westernunion.com) McGranahan also said Western Union plans a stablecoin-linked card that would let users spend or cash out digital dollars in local currencies. CoinDesk reported he described the project as a way to settle transactions without relying on the Society for Worldwide Interbank Financial Telecommunication, or SWIFT. (coindesk.com) Western Union has been under pressure to modernize while its traditional retail remittance business weakens in parts of the Americas. In the first quarter, adjusted revenue fell 1%, and McGranahan said the company’s stablecoin launch is part of a broader effort to update its payment systems. (markets.ft.com) The near-term test is whether Western Union can turn a stablecoin from a crypto product into plumbing that cuts settlement time and cost across its own network. May is the deadline the company has now put on that bet. (coindesk.com) (westernunion.com)