Anchorage Digital has launched a new stablecoin on the Solana network, designed to improve how Western Union handles money transfers and settlements. Currently, Western Union’s systems are older and require holding onto funds, tying up valuable capital. This new stablecoin aims to make those processes faster and more efficient.
Key Takeaways:
- Western Union launched its 1st stablecoin, USDPT, on Solana with Anchorage Digital Bank.
- Solana’s 24/7 settlement capabilities free up idle liquidity for Western Union’s operations.
- By June 2026, Stable by Western Union will launch consumer services across 4 countries.
Remittance Giant Western Union Launches Solana-Based USDPT Stablecoin
Even remittance giants, which have resisted the entrance of stablecoins into the cross-border payments arena, are now embracing them.
Western Union, the U.S.-based remittances behemoth, has launched USDPT, a stablecoin that comes to reinvigorate the company’s business model, which has relied until now on legacy rails.
The stablecoin, issued by Anchorage Digital Bank, one of the first federally chartered crypto institutions in the U.S., offers a new payment vehicle for Western Union customers to move money securely at a global scale.
Anchorage stated that USDPT changes the dynamic between remittance and payment operations, freeing idle liquidity that must be in place under the legacy model and easing the capital requirements for operations.
On this, Malcolm Clarke, Global Head of Digital Assets at The Western Union Company, declared:
USDPT is a significant advancement in global money movement. Adding a digital dollar to our system allows us to operate more efficiently and with less capital, all while maintaining the fast, dependable service our customers and partners worldwide expect.
The decision to issue USDP on top of Solana is linked to the network’s scalability and performance, which Anchorage claims “enables near-instant, 24/7 settlement capabilities that are critical for global payment applications operating across time zones and markets.”
Sheraz Shere, GM Payments & Commerce at the Solana Foundation, highlighted 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.”
This innovation from USDPT comes in the form of increased treasury efficiency and providing liquidity for third parties. In addition, Stable, a new consumer service that will be rolled out in June 2026, will be introduced to customers in Mexico, Argentina, Colombia, and the Philippines.
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2026-05-04 17:58