Financial Services Company Western Union said its upcoming StableCoin settlement system will use Solana’s blockchain.
Announced during the company’s third-quarter earnings last week, the StableCoin System consists of the US Dollar Payment Token (USDPT) and the Digital Asset Network, which will be built in partnership with Anchorage Digital Bank, Western Union said on Tuesday.
The company expects USDPT to be launched in the first half of 2026, providing customer access through partner exchanges to expand access, similar to how PayPal USD (fuse) StableCoin is listed on Binance and other exchanges.
It added that the digital asset network will serve as a cash off-ramp for remittance platform More than 150 million customers, spread over more than 200 countries and territories.
Speaking At the Money 20/20 USA Conference in Las Vegas on Tuesday, Western Union CEO Devin McGranahan said his team compared several other alternatives and concluded that Solana was the “right choice” for building an institutional stablecoin platform.
“For 175 years, we’ve been connecting people, moving $150 billion a year. Digital assets are the next evolution.
We looked at the alternatives, and Solana ended up being the right choice. “
– Devin McGranahan, CEO, Western Union pic.twitter.com/8ni2b47ktk
– Solana (@solana) October 28, 2025
Traditional payment platforms are increasingly exploring blockchain for cross-border remittances, with proponents claiming the technology is faster, cheaper and more transparent than traditional payment rails.
Zelle, Moneygram Make StableCoin Moves
On Friday, the parent company behind the payment platform Zelle said this Launch StableCoins to fuel faster cross-border payments, while MoneyGram announced in mid-September that it would include it Crypto app in Colombia to offer USDC (USDC) Wallet for locals.
The Genius Act boosts stablecoin plans
The increase in stableCoin adoption coincides with increased regulatory clarity in the US following the signing of the StableCoin commit Genius Act in President Donald Trump’s July law.
Related: Polymarket likely to begin initial US restructuring in November: Report
Last week, McGranahan said that Western Union was initially deterred from crypto due to concerns with market volatility, regulatory uncertainty and customer protection, but the passage of the Genius Act changed that course.
The US Treasury Department estimated in April that the StableCoin market is worth $311.5 billion and approximate reach $2 trillion by 2028.
Western Union’s move to the StableCoin Arena comes a little over three months after it was first hinted at Plan to integrate StableCoins in July.
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