Western Union says it plans to launch a new digital asset pegged to the US dollar.
The stablecoin will be known as the U.S. Dollar Payment Token (USDPT), which will be built on the Solana blockchain and issued by Anchorage Digital Bank.
The company is also unveiling a digital asset network designed to connect digital assets with traditional fiat currencies for real-world use.
The initiative will expand money movement options for customers, agents, and partners while enhancing Western Union’s treasury operations.
Western Union President and CEO Devin McGranahan says users will gain seamless access to send, receive, spend, and hold USDPT.
“We are committed to leveraging emerging technologies to empower our customers and communities. As we evolve into the digital assets space, Western Union’s USDPT will allow us to own the economics linked to stablecoins.
Separately, we are excited to announce our Digital Asset Network, a solution for the last mile of the crypto journey by partnering with wallets and wallet providers to provide customers with seamless access to cash off-ramps for digital assets by leveraging our global network. Our Digital Asset Network and USDPT will be an enabler in achieving our mission to make financial services accessible to people everywhere.”
USDPT is slated for availability in the first half of 2026 via partner exchanges.
Western Union currently powers cross-border transfers in more than 200 countries, with payment services utilizing over 130 currencies.
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