- Western Union has launched USDPT, a dollar-denominated stablecoin built on Solana and issued by Anchorage Digital Bank.
- The token is designed for real-world payment infrastructure, including agent settlement, exchange access and future consumer spending tools.
Western Union is moving stablecoins into its payments network with the launch of USDPT, a U.S. dollar-denominated payment token built on Solana.
A regulated dollar token enters Western Union’s network
USDPT is fully backed by U.S. dollars and issued by Anchorage Digital Bank N.A., the federally regulated crypto bank. Western Union says the stablecoin is designed to operate inside real payment systems, combining blockchain settlement with its existing compliance, risk and distribution infrastructure.
The first use case is not flashy retail crypto. It is settlement. USDPT will serve as an always-on asset for treasury and agent clearing, allowing Western Union to move value more dynamically across its global network and reduce idle balances.
“By integrating a regulated digital dollar directly into our network, we’re creating a more efficient settlement layer that supports partners, agents and future consumer use cases,” said Devin McGranahan, Western Union’s president and CEO.
Solana becomes the settlement layer
Solana provides the blockchain layer for USDPT, chosen for high throughput and low-latency settlement. That matters in a remittance business where delays, fragmented correspondent banking rails and local liquidity constraints still create cost.
Nathan McCauley, co-founder and CEO of Anchorage Digital, said stablecoins need more than speed to scale into payment networks.
“It requires regulatory alignment and operational rigor,” he said. “As a federally chartered bank, we provide that foundation.”
Lily Liu, president of the Solana Foundation, framed the launch around production-grade infrastructure.
“Bringing stablecoins into production payment flows requires infrastructure that is both institution-grade and continuously available,” she said.
Western Union is also developing exchange support, a digital asset network for licensed exchanges and custodians, and “Stable by Western Union,” a consumer-facing spend product expected in 2026 across more than 40 countries.
