Western Union launches USDPT stablecoin on Solana

Western Union has launched USDPT, a U.S. dollar–pegged stablecoin built on the Solana blockchain and issued by Anchorage Digital Bank. The token is designed to enable near‑instant, around‑the‑clock settlement for transfers between counterparties.

The company plans a consumer app called Stable that will be available in Mexico, Argentina, Colombia and the Philippines in June 2026. Western Union says the app will serve as an initial market test and a way for customers to access USDPT-based remittances and settlements.

Current correspondent banking and payment rails often require pre-funded balances in multiple jurisdictions so funds can be delivered during local business hours. Western Union expects USDPT to reduce the amount of capital that must sit idle to ensure transactions clear. Anchorage Digital Bank will act as issuer and custodian for the token and has said USDPT will provide on-chain liquidity for partners and third parties in the network.

Solana was chosen for its high throughput and continuous settlement across time zones. Sheraz Shere, GM Payments & Commerce at the Solana Foundation, added that building on Solana allows Western Union and Anchorage Digital to support high‑volume, real‑time payment activity in a way that traditional systems cannot.

Malcolm Clarke, Global Head of Digital Assets at The Western Union Company, said, ‘USDPT represents a meaningful step forward in how we move money globally. By introducing a digital dollar into our network, we can operate in a more efficient, capital-light way while continuing to deliver fast, reliable service to customers and partners around the world.’

Western Union did not provide a broader rollout timetable beyond the initial four markets. The company and Anchorage Digital will need to address regulatory, compliance and custody requirements as the service expands, given Anchorage’s federal charter and the cross-border nature of remittances.