Western Union chose the Solana blockchain for its stablecoin and crypto network. The announcement came during last week’s Q3 earnings call. The company placed the target launch in the first half of 2026.
The plan centers on the USDPT stablecoin and a Digital Asset Network. Western Union said the network will handle settlement and cash conversion. The focus stays on remittances and cross-border payments.
Western Union serves 150 million customers in 200+ countries and territories. The Digital Asset Network will connect fiat rails with crypto rails. The company framed the design as operational at scale.
USDPT Stablecoin and Digital Asset Network: Access and Flow
Western Union said customers will access USDPT stablecoin through partner exchanges. That mirrors how PYUSD trades on major venues. The aim is broad availability, not a closed loop.
The Digital Asset Network will manage cash off-ramps for users. It will link on-chain balances with cash pickup and bank payouts. Western Union set this up as an extension of its remittance footprint.
Settlement will occur on Solana. The company cited throughput and fees as reasons. The structure targets consistent settlement for cross-border payments.
Why Solana: Western Union and Devin McGranahan’s Remarks
Western Union CEO Devin McGranahan spoke at Money 20/20 USA on Tuesday. He said the team compared many options. He then summarized the decision in clear terms.
“We concluded that Solana was the right choice for building an institutional-ready stablecoin platform,”
McGranahan said. The quote followed a review of alternatives. It underscored the firm’s selection process.
The company previously held back from crypto. It cited volatility, regulatory uncertainty, and customer protection. The new approach follows changes in U.S. policy.
GENIUS Act and Stablecoin Regulation: Policy Context
Western Union tied its move to the GENIUS Act signed in July. The law set rules for stablecoin issuance and consumer safeguards. That step reduced regulatory uncertainty for issuers and users.
McGranahan said those earlier concerns shaped prior decisions. He pointed to volatility, rules, and protection as hurdles. He said the GENIUS Act changed the firm’s assessment.
The U.S. Treasury sized the stablecoin market at $311.5 billion in April. It estimated potential growth toward $2 trillion by 2028. These numbers outline the market Western Union plans to serve.
Zelle and MoneyGram Stablecoin Moves: Sector Signals
The parent company behind Zelle said Friday it will launch stablecoins. The target is faster cross-border payments across partner banks. That places stablecoins near mainstream banking workflows.
MoneyGram rolled out a USDC wallet in Colombia in mid-September. The product lives in its crypto app. It offers dollar-linked balances with local access.
These efforts highlight a shift in cross-border payments. Traditional firms now test stablecoins next to fiat rails. Western Union’s USDPT stablecoin plan sits inside this broader trend.
Partners and Architecture: Anchorage Digital Bank’s Role
Western Union named Anchorage Digital Bank as a partner. Anchorage provides federally chartered digital asset custody. That status supports segregation, audits, and risk controls.
The partnership links custody with USDPT stablecoin issuance and redemption. Western Union will tie banking safeguards to Solana settlement. The model targets institutional compliance for remittances.
The Digital Asset Network will manage cash conversion paths. Exchanges will list USDPT for liquidity and discovery. The approach resembles the PYUSD distribution model.
Timeline and Access: H1 2026 Milestones
Western Union set H1 2026 for initial USDPT access. The plan includes exchange listings and user onboarding. The program starts with staged deployment.
Customers will find USDPT stablecoin through partner exchanges. Western Union will run cash and bank off-ramps through its network. Availability will depend on local support.
The company’s footprint spans 150 million customers across 200+ countries. That reach enables immediate distribution once live. The Digital Asset Network will tie on-chain settlement to cash payouts.