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Western Union has moved closer to launching its Solana-based stablecoin USDPT, according to updates shared during its Q1 earnings call. The digital asset is designed to support settlement operations across the company’s global agent network. The firm also confirmed plans for a separate consumer-focused payment tool called the USD Stable Card.
USDPT is positioned as a blockchain-based settlement tool rather than a retail payment token. It is expected to operate on the Solana network and will be issued by Anchorage Digital Bank. Western Union has linked the development to its broader effort to modernize cross-border settlement systems used by agents in multiple regions.
Western Union stated that USDPT is in its final preparation stage and is expected to launch next month. The stablecoin will operate on the Solana blockchain, which the company selected for its transaction speed and scalability. Anchorage Digital Bank will handle issuance under regulated conditions.
Devin McGranahan, CEO and President of Western Union, said during the earnings call, “It is no longer a question of if Western Union will be active in digital assets; it is now how fast we can scale.” He also referred to USDPT as ‘the foundation of our strategy,’ while describing its role in settlement rather than consumer payments.
The company noted that USDPT will be used to streamline transactions within its agent network rather than replacing traditional retail services. It will support settlements across Western Union’s international operations, where correspondent banking systems have historically been used.
Western Union is also building a Digital Asset Network (DAN) that will connect cryptocurrency wallets with its global physical locations. The system is designed to allow digital asset holders to convert funds into local currency at Western Union outlets. The firm said its first partner under this network will join shortly.
The company stated that the infrastructure is being developed to support movement between digital assets and cash-based services. Crossmint is providing a wallet and payment interface technology to connect USDPT into Western Union’s existing systems. This setup is expected to allow integration without changing the company’s agent framework.
McGranahan noted, “through DAN, millions of wallet users will be able to move from digital assets into local currency using Western Union’s retail network.” He added that the company has received “strong inbound interest” since announcing the initiative. The system aims to support both remittance flows and digital asset conversion.
Alongside USDPT, Western Union plans to launch a USD Stable Card across dozens of markets later this year. The card will allow users to hold stablecoin balances and use them for global spending. It is being developed as part of the company’s broader digital asset strategy.
The Stable Card is intended for consumer use, unlike USDPT, which focuses on institutional settlement. Western Union stated that the card could be useful in regions where currency volatility is present. It aims to provide users with access to dollar-denominated value for everyday transactions.
The company’s network of more than 360,000 agent locations across over 190 countries will support both digital and cash-based services. USDPT transfers are expected to settle through this system, allowing recipients to withdraw local currency in person.
However, Western Union has not disclosed transaction fees or full rollout details for either USDPT or the Stable Card at this stage.
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