Hassan Maishera
TL;DR
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Western Union is launching its USDPT on Solana next month, initially for internal settlements as a faster alternative to SWIFT.
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The firm is also rolling out a Digital Asset Network and a consumer Stable Card, signaling a major push into blockchain-based payments.
Western Union to Launch Stablecoin Next Month
Western Union is accelerating its push into digital assets, unveiling plans to launch its own stablecoin and a broader crypto-powered payments ecosystem.
During its first-quarter earnings call on April 24, CEO Devin McGranahan confirmed that the firm’s USDPT — a U.S. dollar-backed stablecoin built on the Solana network — is in its final stages and expected to go live next month. He stated that,
“It is no longer a question of if Western Union will be active in digital assets; it is now how fast we can scale.”
Unlike traditional retail-facing stablecoins, USDPT will initially serve as an internal settlement tool, acting as an alternative to the SWIFT system currently used for cross-border transactions.
The rollout will begin in select countries with key agent partners, enabling faster, onchain settlement — including during weekends and banking holidays.
Western Union Targets Faster Cross-Border Settlements with USDPT
Beyond the stablecoin itself, Western Union is building an ecosystem around USDPT with two major product launches.
The first is the Digital Asset Network (DAN), designed to bridge crypto wallets with Western Union’s global retail and agent infrastructure. Through DAN, users will be able to convert digital assets into local currency seamlessly via Western Union’s existing network. The company noted that its first DAN partner is expected to go live this week.
The second is a consumer-focused USD Stable Card, slated for launch later this year across dozens of markets. The card will allow users to hold value in stablecoins and spend globally, targeting regions where inflation drives demand for dollar-denominated assets.
“The Stable Card is particularly compelling in inflation-sensitive markets where customers want dollar-denominated value with immediate practical utility,” McGranahan added.
Western Union’s digital asset expansion comes as its core business shows signs of stabilization. The company reported adjusted revenue of $983 million for the first quarter, down 1% year-over-year but reflecting a notable improvement from the previous quarter.
