Western Union Launches USDPT Stablecoin on Solana — Here’s How It Works

TLDR

• Western Union has launched its USDPT stablecoin on the Solana blockchain
• The stablecoin is initially live in Bolivia and the Philippines, reaching 130 million people
• It is issued by Anchorage Digital, the first federally chartered crypto bank in the US
• Western Union plans to expand USDPT to 40+ countries in 2026
• The total stablecoin market cap sits at around $321 billion, with projections of $2 trillion by 2030

Western Union has launched USDPT, a US dollar-denominated stablecoin built on the Solana blockchain. The rollout marks the company’s first move into blockchain-based payments for its global remittance network.

The stablecoin is being issued by Anchorage Digital Bank, the first federally chartered crypto bank in the United States. Fireblocks is providing the wallet and settlement infrastructure for the product.

USDPT is initially available in Bolivia and the Philippines. Combined, those two markets cover around 130 million people.

Anchorage Digital CEO Nathan McCauley noted that scaling stablecoins into real payment networks takes more than technology. He said it also requires “regulatory alignment and operational rigor,” which Anchorage provides as a federally chartered bank.

Western Union plans to expand USDPT to more than 40 countries during 2026. The company also has a consumer-facing product called “Stable by Western Union” set to launch alongside the broader rollout.

The company said it also plans to make USDPT available on licensed crypto exchanges. It will connect those exchanges to its broader payments and liquidity infrastructure.

Remittance Companies Eye Stablecoins After GENIUS Act

Western Union’s move follows a wider trend among remittance firms. The US GENIUS Act, signed into law in July 2025, created a regulatory framework for stablecoins and prompted several companies to act.

MoneyGram launched USDC stablecoin services in Colombia in September. Zelle announced plans for stablecoin-powered cross-border transfers in October.

Bybit’s former chief marketing officer, Claudia Wang, said remittance corridors between the US and Central America are growing fast. She added that routes within Latin America — such as from Argentina to Bolivia — have been “almost untouched by crypto rails.”

She said the total Americas remittance market is now worth $174 billion, and there is room for companies like Western Union to expand into underserved corridors.

Stablecoin Market Continues to Grow

The total stablecoin market cap currently sits at around $321 billion. Tether’s USDT leads the market with nearly $190 billion in circulation.

The US Treasury and Citigroup have both projected the stablecoin market could exceed $2 trillion by 2030.

Western Union serves more than 150 million customers across more than 190 countries. The company said its existing infrastructure spans over 200 countries and territories.

The USDPT launch is the company’s first step into onchain settlement at scale.

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