Overview
- Western Union’s USDPT stablecoin, launched Monday, runs on the Solana blockchain and is issued by federally chartered Anchorage Digital Bank with 1:1 U.S. dollar backing.
- Western Union will use USDPT as a 24/7 settlement asset for treasury and agent payouts, a shift the company says will speed transfers, cut idle balances, and improve liquidity management.
- The rollout is live first in the Philippines and Bolivia, and Fireblocks is providing the wallet and settlement infrastructure that connects the token to Western Union’s operations.
- The company plans licensed exchange listings for USDPT and a consumer spending product called Stable by Western Union set to reach more than 40 countries in 2026.
- Coverage from market and industry analysts frames the launch as an institutional boost for Solana’s payments use case, built on a regulatory backdrop shaped by the 2025 GENIUS Act for dollar-backed stablecoins.