Western Union Targets May Rollout for USDPT Stablecoin on Solana
Western Union is targeting May 2026 for the launch of its Solana-based stablecoin, USDPT, with CEO Devin McGranahan describing the token as "the foundation of our strategy" during the company's first-quarter 2026 earnings call.
The U.S. dollar-backed stablecoin, originally announced in October 2025, will be issued by Anchorage Digital Bank, the federally chartered crypto bank. Western Union has designed USDPT specifically for settling transactions across its global agent network rather than as a consumer-facing product, positioning it as an alternative to existing correspondent banking and SWIFT-based settlement rails.
"It is no longer a question of if Western Union will be active in digital assets, it is now how fast we can scale," McGranahan told investors. He described USDPT as the cornerstone of a wider digital asset programme that the company is rolling out through 2026.
Digital Asset Network goes live
Alongside the stablecoin, Western Union is launching its Digital Asset Network (DAN), an infrastructure layer that connects cryptocurrency wallets to the company's physical retail footprint. The first DAN partner is scheduled to go live this week, with seven or more partners expected to activate over the course of 2026.
"Millions of wallet users will be able to move from digital assets into local currency using Western Union's retail network," McGranahan said. The proposition is aimed at users in markets where stablecoin holdings are increasingly common but where on- and off-ramps to local cash remain limited.
USD Stable Card to follow
Later in 2026, Western Union plans to launch the USD Stable Card across dozens of markets. The card will allow consumers to hold stablecoin balances and spend them globally, with the company pitching it as particularly relevant in inflation-sensitive regions where dollar-denominated savings are in demand.
McGranahan described the card as a "consumer facing expression, connecting USDPT, digital asset, retail customers, global spending, into a single, integrated, easy consumer experience."
Banking and infrastructure partners
Anchorage Digital Bank, as a federally regulated institution, will issue USDPT, with U.S. Bank providing custody. The choice of Solana as the underlying blockchain follows Western Union's December 2025 commitment to build on the network's enterprise platform, alongside Mastercard and Worldpay.
The launch makes Western Union one of the more visible incumbents in the cross-border payments business to commit to a branded stablecoin issuance. It comes as a growing number of traditional financial institutions explore stablecoin infrastructure as a way to cut settlement costs and times in international payment flows.
Q1 results
Western Union reported first-quarter 2026 adjusted revenue of $983 million, down 1% year-on-year but a 400-basis-point improvement on the previous quarter. The company is positioning its digital asset roadmap as a key plank of its return to growth, with USDPT, DAN and the Stable Card together intended to reshape both the institutional settlement layer and the retail proposition.
