Western Union to Launch Dollar-Backed Stablecoin on Solana in 2026

Western Union announced plans to launch its U.S. Dollar Payment Token (USDPT), a stablecoin fully backed one-to-one by U.S. dollars and issued by Anchorage Digital Bank, on the Solana blockchain in 2026. This move follows the passage of the GENIUS Act, which established a federal regulatory framework for stablecoins in the U.S. The company chose Solana for its high transaction speed and low costs, which align with Western Union's high volume of global money transfers. Alongside the stablecoin, Western Union is launching a Digital Asset Network to connect cryptocurrency wallets with its 400,000 physical locations, allowing users to convert digital assets to cash. CEO Devin McGranahan stated this is a natural evolution for the company, allowing it to "own the economics linked to stablecoins." This initiative is seen as a major step by a traditional financial company into digital assets, potentially reshaping the $150 billion global remittance industry by offering faster, cheaper cross-border payments.

(Source：Brave New Coin)