Western Union has launched USDPT, a U.S. dollar-backed stablecoin built on Solana and issued by federally regulated Anchorage Digital Bank. The move marks a significant step by the global remittance giant into digital currency infrastructure.
The stablecoin will underpin several strategic initiatives. A consumer-facing product, "Stable by Western Union," is set to debut in over 40 countries in 2026. The effort leverages Western Union's network spanning more than 200 countries and serving 100 million users.
CEO Devin McGranahan stated that USDPT creates a more efficient settlement layer for partners and consumers while preserving the brand's trust and scale. Anchorage Digital CEO Nathan McCauley emphasized that regulatory alignment is essential to scaling stablecoins beyond technology into real payment networks.
Corporate stablecoin issuance has gained momentum since last year's signing of the GENIUS Act, which established a U.S. regulatory framework for such tokens. The total stablecoin market cap currently stands at approximately $321 billion, led by Tether's USDT.