Western Union has outlined a plan to launch a dollar-pegged stablecoin called U.S. Dollar Payment Token, issued by Anchorage Digital Bank on Solana with availability targeted for the first half of 2026. The company will pair the token with a Digital Asset Network that links crypto wallets to Western Union’s global cash rails, which is the practical bridge most pilots miss.

The company set the tone with a clear message from the top.

“We are committed to leveraging emerging technologies to empower our customers and communities,”

said President and CEO Devin McGranahan, adding that USDPT lets the firm “own the economics linked to stablecoins” while its Digital Asset Network focuses on last-mile cash off-ramps.

Can Solana carry remittance-scale traffic

For crypto natives, the big question is not branding. It is throughput, cost, and reliability when millions begin to push value at once. Solana’s effective user-driven throughput typically sits in the low thousands of transactions per second, with sub-cent fees in normal conditions. Peak stress tests have printed much higher marks, but those numbers are best treated as an upper bound, not a daily reality.

The network has worked to reduce the kind of whole-chain incidents that once drew criticism, and a second validator client is positioned as a resilience milestone rather than a vanity upgrade.

Western Union’s choice of Anchorage matters for trust. Anchorage Digital Bank is a federally chartered crypto bank that handles regulated custody and stablecoin issuance, and it has been expanding institutional roles across the industry this year. That pedigree gives Western Union a compliance backbone as it navigates stablecoin rules across multiple jurisdictions.

How this could change the experience

If the launch holds its timeline, the first real signal will be corridor selection. Expect flows that match Western Union’s strongest send and pickup markets, where even modest fee cuts and instant settlement can move share quickly. The company says users will access USDPT through partner exchanges, which suggests a distribution strategy that meets consumers where they already hold balances.

Solana’s official channels have already amplified the partnership, which hints at close coordination on performance, fee policy, and wallet UX before any mass-market switch flips. The proof, as always, will be in stable uptime during real paydays and weekend rushes.

Conclusion: This is less a press-release moment than a live experiment in moving remittances to crypto rails without asking the user to become a degen. If Western Union ships on time, and if Solana holds steady under real-world traffic, cross-border payments may start to feel instant, cheap, and boring in the best possible way.

FAQ

What exactly is launching and when?
Western Union plans a Solana-based stablecoin, USDPT, issued and custodied by Anchorage Digital Bank, with availability targeted for H1 2026.

Why choose Solana for remittances?
Solana offers low per-transaction fees and high practical throughput, which are important for small payments that need fast settlement.

How will users cash out?
Western Union will link partner wallets to its cash pickup network through a new Digital Asset Network for last-mile conversion.

What are the key crypto indicators to watch?
Track network uptime and fees on Solana, USDPT reserve disclosures and audits, corridor pricing versus legacy rails, and user growth in active wallets.

Glossary of key terms

U.S. Dollar Payment Token (USDPT)
A dollar-pegged stablecoin Western Union plans to issue on Solana with Anchorage Digital Bank as issuer and custodian.

Digital Asset Network
Western Union’s framework that connects crypto wallets to its global cash agent network for compliant off-ramps and on-ramps.

Effective user-driven throughput
A real-world measure of how many transactions per second a blockchain processes under normal usage rather than lab peaks.

Second validator client
An independent software implementation that increases network resilience by reducing single-client risk during incidents.

Read More: Is Solana Built for 100M Western Union Remittance Wallets?">Is Solana Built for 100M Western Union Remittance Wallets?

Western Union’s new Solana-based stablecoin and crypto cash-out network mark a smart step into blockchain-enabled remittances, the report said.

Global financial services company Western Union is making a strategic move into the world of stablecoins, responding to the evolving landscape created by the recent passage of the GENIUS Act in the US.

On Tuesday, the company announced its intention to launch the US Dollar Payment Token (USDPT), a new stablecoin, alongside its Digital Asset Network designed to integrate digital and fiat currencies.

Western Union New USDPT Stablecoin

Built on the Solana (SOL) blockchain and issued by Anchorage Digital Bank, USDPT aims to broaden the options for transferring money for customers, agents, and partners, while also bolstering Western Union’s treasury capabilities. 

Through this initiative, the company plans to provide users with access to digital assets, allowing them to send, receive, spend, and hold USDPT with ease, supported by Western Union’s global compliance and risk management framework.

Devin McGranahan, President and CEO of Western Union, expressed the company’s commitment to harnessing emerging technologies to empower customers and communities. 

“As we transition into the digital asset space, USDPT will enable us to take ownership of the economics associated with stablecoins,” McGranahan stated. 

He also highlighted the significance of the Digital Asset Network, which aims to simplify cash off-ramps for digital assets by partnering with wallets and wallet providers, thereby allowing seamless access for customers via Western Union’s extensive global network.

Western Union anticipates that USDPT will launch in the first half of 2026, with plans for users to access the stablecoin through partner exchanges, ensuring broad availability and user-friendliness.

Stablecoins To Reduce Reliance On Traditional Banking

During Western Union’s third quarter of the year earnings call last Thursday, McGranahan revealed that the company has initiated a pilot program utilizing stablecoins for value transfer. 

He noted that this pilot aims to leverage blockchain technology and stablecoins to decrease reliance on traditional correspondent banking systems, which will help shorten settlement times and enhance capital efficiency.

Historically, Western Union has maintained a cautious approach towards crypto, primarily due to concerns regarding volatility, regulatory challenges, and customer protection. 

However, with the enactment of the GENIUS Act, McGranahan indicated that new opportunities are emerging for integrating digital assets into the company’s operations, enhancing efficiency, reducing friction, and ultimately improving the customer experience.

Western Union facilitates the transfer of billions of dollars annually, boasting a market capitalization of over $2.9 billion as of October 28, and generating more than $1 billion in adjusted revenue in the third quarter of the year alone.

Despite the announcement, SOL’s price has failed to react positively, currently attempting to hold the $200 line as the cryptocurrency’s next short-term support.

Featured image from DALL-E, chart from TradingView.com 

The U.S. dollar-pegged token is expected to become available in the first half of 2026.

Stablecoin transaction volume is soaring; meanwhile, tradfi companies are leaning in hard, and Japan’s first yen-denominated token has roared.

The post All is coming up stablecoins: volume soars, tradfi firms want in appeared first on CoinGeek.