Crossmint partnered with Western Union on Wednesday, March 4, to enable the remittance company’s USDPT stablecoin and its new Digital Asset Network on the Solana blockchain. This partnership aims to ease digital money movement and payout services using Western Union’s infrastructure.
This partnership will enable fintech services to utilize Western Union’s payout infrastructure and Crossmint’s wallet and payment API. This will enable fintech services to move money using Western Union’s USDPT stablecoin.
Western Union has launched a Digital Asset Network that allows users to connect their stablecoins to existing payout services. This allows users to exchange digital dollars for local currency via over 360,000 cash pickup locations around the globe.
The company stated that the USDPT stablecoin will be issued on the Solana blockchain. Solana is a popular blockchain for transactions because of its speed and capacity.
Crossmint Expands Developer Access and Multi-Chain Support
Crossmint said that its technology will enable developers and fintech companies to use the token using existing wallets and payment systems. Crossmint’s technology provides support for smart wallets, on- and off-ramps, and cross-chain stablecoin systems. The company serves over 40,000 clients.
Western Union is a money transfer company that is one of the largest in the world. It provides services in over 200 countries and territories and in more than 130 currencies.
Western Union’s history is marked by several communications achievements. It completed the first transcontinental telegraph in 1861.
The company initially announced its plans for a USDPT stablecoin in October 2025. It stated that the Solana-based token is scheduled for release in the first half of 2026.
Western Union’s primary business is international border remittances. The traditional system of international transactions often involves delays, processing limits, and high fees associated with such transactions.
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Remittances across the world were estimated at about $905 billion in 2024, according to the World Bank. The average cost of transferring $200 internationally is about 6% of the transaction amount.
Source: World Bank
Rising Stablecoin Usage in Emerging Markets
Stablecoins have gained significant attention as new settlement tools. They provide faster transaction settlement on the blockchain network, which reduces the transaction costs for users.
Chainalysis has reported significant stablecoin transaction volumes across various Latin American countries. More than half of crypto transactions made with the Argentine peso, Brazilian real, and Colombian peso on major exchanges involve stablecoins.
Other countries showing rapid adoption include Nigeria and Turkey. Asian markets such as the Philippines and Vietnam also rank high in grassroots crypto use.
At a World Economic Forum panel in Davos, former UN under-secretary-general Vera Songwe said stablecoins are gaining momentum across Africa. She noted that remittance flows now hold greater economic importance for many African nations than foreign aid.
Source: Chainalysis
The partnership positions Crossmint and Western Union to support faster and broader remittance options as digital asset usage expands worldwide.