Western Union Adopts Solana Blockchain to Launch its New Stablecoin and Digital Asset Network

Highlights:

• Western Union adopts Solana blockchain for its new stablecoin and Digital Asset Network launch.
• The move is targeted towards connecting traditional finance and the blockchain digital economy.
• Federal-regulated firm Anchorage Digital Bank will issue Western Union’s USDPT stablecoin.

Global financial services firm Western Union plans to adopt the Solana (SOL) blockchain for the launch of its US dollar-backed stablecoin, the USDPT, and its Digital Asset Network. The financial company announced the move in a press release on October 28, noting that it aims to connect traditional finance and the growing digital economy.

According to the press release, USDPT will be built on the Solana blockchain and issued by Anchorage Digital Bank, a federally regulated digital asset institution. Western Union stated that the stablecoin will enable individuals, agents, and partners to send, receive, hold, and spend digital dollars securely and in compliance with regulations. In addition, the financial firm plans to strengthen its treasury operations with the stablecoin.

The Digital Asset Network will partner with crypto wallets and other related service providers to enable seamless cash and digital currency transfers. This will integrate blockchain-based money and local currencies, ensuring fast, compliant, and low-cost cross-border transactions.

Meanwhile, the announcement follows recent blockchain settlement tests that cut transfer times and fees. Beyond boosting transaction speed, the initiative aims to preserve customers’ trust and reduce reliance on traditional banking systems.

Reacting to the development, Devin McGranahan, President and CEO of Western Union, emphasized that his company will leverage emerging technologies to empower customers and communities. “Our Digital Asset Network and USDPT will be an enabler in achieving our mission to make financial services accessible to people everywhere,” the CEO added.

Western Union is launching USDPT, a dollar-backed stablecoin on Solana, aiming to revolutionize global money transfers with faster, cheaper, and more transparent transactions. Issued by Anchorage Digital Bank and set for release in early 2026, USDPT will reduce fees, eliminate… pic.twitter.com/rU12lOJrNb

— Fama Crypto (@Famacrypt) October 29, 2025

USDPT Launch Set for Early 2026

The stablecoin will go live in the first half of next year. Upon its release, users will access the stablecoin through partner exchanges, enabling wider token reach. By building its stablecoin on the Solana blockchain, Western Union aims to capitalize on the blockchain’s speed, scalability, and low-cost transactions. Anchorage Digital brings bank-grade security and regulatory cover.

The global financial firm first revealed its interest in stablecoin use for payments in July, shortly after US President Donald Trump signed the GENIUS Act. The law, which supports the issuance and usage of stablecoins, motivated many financial institutions, including Western Union, to start considering alternative digital settlements.

As part of efforts to develop alternative digital settlements, Western Union started conducting pilot programs in South America and Africa to experiment with new models of cross-border settlement. According to McGranahan, the program will improve foreign exchange operations and cut international transfer delays.

The CEO noted that Western Union considered on- and off-ramp services for easy stablecoin purchase and redemption. These will benefit users in regions with limited banking services. Overall, McGranahan stated that his company is prioritizing three areas. These include quicker settlements, seamless fiat conversions, and value preservation for customers.

.@WesternUnion USDPT and the Digital Asset Network, built on Solana.

Changing how the world's money moves.https://t.co/FVobqBOUPA pic.twitter.com/RlHvOC3E6Z

— Solana (@solana) October 28, 2025

SOL Dips Slightly as Western Union Adopts Solana Blockchain for its USDPT Launch

At the time of writing, Solana is trading at $195.58, following a 2.5% decline in the past 24 hours. It fluctuated between $191.75 and $203.68 with a trading volume of about $7.7 billion. Its 7-day-to-date price change variable reflected a 5.3% upswing. However, SOL is 6.9% down month-to-date. Solana’s supply inflation and volatility remain high at 17.31% and 8.26%, respectively.

Source: CoinGecko