Western Union Launches Dollar Stablecoin USDPT, Expands Solana-Based Payments Infrastructure

Western Union has launched its own dollar-backed stablecoin, expanding its digital payments infrastructure as traditional financial firms step up adoption of on-chain payments.

The global money-transfer company said on May 4 that it had introduced USDPT, a stablecoin pegged to the US dollar, according to a Business Wire announcement.

USDPT is fully backed by US dollars, and issuance will be handled by Anchorage Digital Bank, which the company described as the first federally regulated crypto bank in the US. Built on the Solana blockchain, the token is designed for use in real-time payment environments.

Western Union said it plans to use USDPT to improve settlement efficiency across its global payments network while reducing delays and costs in traditional financial systems.

The company said the around-the-clock settlement structure could also improve the efficiency of its cash management.

Chief Executive Officer Devin McGranahan said USDPT would strengthen Western Union's role as a global payments platform. By integrating a regulated digital dollar into its network, the company aims to build a more efficient settlement structure for partners and customers.

Western Union said it is considering a range of future use cases, including support for global crypto exchanges, digital-asset network development and consumer payment services. It also plans to use USDPT in settlements between its global agents to improve liquidity management.

The move comes as more traditional financial firms integrate regulated stablecoins directly into payments infrastructure. Western Union's launch underscores the potential for digital dollars to become a core asset in global payment systems.