Western Union has announced the launch of USDPT, a US dollar-pegged stablecoin issued by Anchorage Digital Bank and built on the Solana blockchain.
The token will serve as the foundation for Western Union’s new Digital Asset Network, designed to connect wallets, exchanges, and retail agents for seamless crypto-to-cash conversion.
“Western Union is uniquely positioned to bridge the worlds of crypto and cash,” said Devin McGranahan, president and CEO. “Our Digital Asset Network will enable wallets and exchanges to offer cash-in and cash-out capabilities across our global retail footprint.”
USDPT will be redeemable 1:1 for US dollars and backed by cash and short-term US Treasuries held with regulated financial institutions. The firm cited Solana’s speed, low fees, and scalability as key reasons for its selection, with plans to expand to other blockchains over time.
Anchorage Digital Bank, the sole federally chartered crypto bank in the US, will issue and custody the stablecoin. Western Union confirmed that USDPT will not be available for retail trading but will be used to settle transactions within its network, with partner onboarding expected in early 2026.
The announcement follows Western Union’s pilot programmes involving tokenised transfers and stablecoin payouts, and signals growing institutional confidence in public blockchain infrastructure. The firm’s entry into tokenised payments could reshape cross-border settlement and remittance flows, especially as regulatory clarity improves.
