Western Union Launches Solana Stablecoin USDPT, Taking Global Remittances On-Chain

Western Union has launched USDPT, a US dollar-pegged stablecoin on Solana, marking its entry into blockchain-based remittances.

Cointelegraph reported on May 4 that USDPT was issued on the Solana network. It is Western Union's first move to add on-chain payment and settlement functions to its global remittance network.

The service will initially be offered in Bolivia and the Philippines, with plans to expand to more than 40 countries by 2026. Those initial markets have a combined user base of about 130 million people.

Anchorage Digital, a US regulated crypto bank, is issuing the stablecoin, while Fireblocks is providing wallet and payments infrastructure. Western Union plans to expand liquidity and access by connecting with licensed crypto exchanges.

Western Union said the launch of USDPT shows that global payment methods are changing. It added that financial institutions will eventually adopt regulated digital assets as core infrastructure.