Western Union Set to Launch a Stablecoin on Solana in May 2026

Tech

Western Union Set to Launch a Stablecoin on Solana in May 2026

• Western Union USDPT stablecoin launches in May, built on Solana and issued by Anchorage Digital.
• USDPT replaces SWIFT for agent settlements and works through traditional banking holidays.
• Digital Asset Network connects crypto wallets to Western Union retail locations globally.

Western Union is weeks away from launching its first stablecoin. Speaking on the companys first-quarter earnings call on April 24, CEO Devin McGranahan confirmed that USDPT, a US dollar-backed stablecoin built on Solana, is in its final stages of preparation and expected to go live in May.

“It is no longer a question of if Western Union will be active in digital assets,” McGranahan said. “It is now how fast we can scale.”

Details on USDPT at launch:

• Built on Solana and issued through federally regulated Anchorage Digital Bank
• US dollar-backed and designed for institutional-grade settlement
• Initial rollout in select countries with key agent partners
• Operates continuously, including during traditional banking holidays
• Serves as a direct alternative to SWIFT for agent settlements

Two More Products Coming

USDPT is the foundation, but not the whole picture. Western Union also confirmed two adjacent products launching alongside the stablecoin.

What the full product rollout looks like:

• USDPT stablecoin: institutional settlement alternative to SWIFT launching May 2026
• Digital Asset Network: connects crypto wallets to Western Unions retail agent network
• USD Stable Card: allows consumers to hold and spend stablecoins across dozens of markets
• First DAN partner going live this week, according to CEO McGranahan
• Stable Card targeting inflation-sensitive markets where dollar value is in high demand

The Digital Asset Network connects crypto wallets directly to Western Union‘s retail and agent network, allowing wallet users to convert digital assets into local currency through Western Union’s existing physical locations. “Millions of wallet users will be able to move from digital assets into local currency using Western Unions retail network,” McGranahan said. Later this year, the company plans to introduce a USD Stable Card across dozens of markets.

The Business Behind the Announcement

Western Union reported adjusted first-quarter revenue of $983 million, down just 1% year on year but representing a meaningful improvement from the fourth quarter.

The stablecoin push arrives as the company is under pressure to find new growth vectors in a remittance market increasingly challenged by fintech competitors. Building its own stablecoin infrastructure rather than relying on third-party rails gives Western Union direct ownership of the economics of digital money movement, a strategic bet McGranahan has been building toward since announcing USDPT in October 2025.