Western Union’s Dollar-Backed Stablecoin Is Coming to Solana — Here’s the Rollout Plan

Western Union plans to launch a dollar-backed stablecoin on Solana, opening a new channel for its global customers to move money with lower fees and faster ￰0￱ company, which built the first transcontinental telegraph line in 1861, is recasting its network for a digital era where transactions clear in seconds and run around the ￰1￱ a statement on Tuesday, Western Union said its US Dollar Payment Token (USDPT) will be issued by Anchorage Digital Bank and is scheduled to launch in the first half of ￰2￱ Union said users will access the asset through partner exchanges, then send value internationally without exposure to local currency swings and banking ￰3￱ Union Bets on Blockchain to Cut Costs in Global Remittances Executives framed the move as a return to the firm’s roots of connecting people through technology, only with new ￰4￱ McGranahan, Western Union’s president and chief executive, indicated that shifting into digital assets is the next chapter in a 175-year effort to make money movement simpler and more reliable.

NEW: WESTERN UNION CEO SAYS “WE LOOKED AT MOST OF THE OTHER ALTERNATIVES, AND CAME TO THE CONCLUSION… THE SOLANA BLOCKCHAIN WAS THE RIGHT CHOICE FOR US” ￰5￱ — DEGEN NEWS (@DegenerateNews) October 28, 2025 Solana gives the project high throughput and low fees, which are critical in remittances where cents ￰6￱ settling on a public chain, Western Union aims to shorten the gap between a customer’s send instruction and a recipient’s usable funds, while improving transparency for compliance and ￰7￱ adoption builds, the firm could accelerate stablecoin usage across mainstream ￰8￱ already command a market valued in the hundreds of billions, yet much of that volume sits inside trading venues.

A Western Union pipeline would put tokenized dollars to work in everyday transfers, bill pay, and cross-border ￰9￱ Payments Firms Race to Shorten Settlement Cycles With On-Chain Dollars Anchorage Digital Bank will serve as issuer, bringing a federally chartered framework to custody and reserve ￰10￱ developments have encouraged issuers to hold reserves in cash and short-term Treasuries, which supports price stability and ￰11￱ is ￰12￱ introduced a dollar stablecoin with Paxos in 2023 and folded it into its remittance ￰13￱ launched a wallet to receive and hold USDC. Bank-led networks are testing stablecoin payouts for international transfers, seeking to compress settlement cycles and reduce correspondent banking ￰14￱ Partnerships Will Let Non-Customers Convert Tokens Into Local Currency Western Union is also building a digital asset network with wallet providers so non-customers can convert tokens into local currency through its retail ￰15￱ approach aims to bridge on-chain value with cash-out access in markets where bank penetration is low and cash remains ￰16￱ company has been piloting blockchain in its own treasury to move funds faster and sidestep legacy cut-offs.

Today’s cross-border wires can take days and impose working-capital drag. A tokenized dollar that redeems into bank money on demand could streamline liquidity management across time zones.