Western Union has launched USDPT, a dollar-backed stablecoin on the Solana blockchain, to support cross-border payments and related consumer spending features. Multiple outlets report that the stablecoin is issued by Anchorage Digital Bank and is intended to enable 24/7 settlement rather than relying on traditional banking hours or payment windows. Western Union says USDPT is designed to work with its agent and partner network, and the rollout is targeted across more than 200 countries, with plans to begin delivering services in 40+ countries as part of a broader expansion.
The launch follows industry momentum among remittance and payments firms to explore stablecoin-based rails, particularly after U.S. regulatory developments associated with the GENIUS Act in July. Analysts cited by one outlet describe the potential for the stablecoin to alter Western Union’s payment model by shifting settlement mechanics. Western Union positions USDPT as a tool to improve speed and availability for remittances and to support a consumer spending product linked to the stablecoin initiative.
