Western Union, a money transfer company, announced plans to launch its own stablecoin,called U.S. Dollar Payment Token (USDPT) on the Solana blockchain by 2026. The firm said it would achieve this in partnership with Anchorage Digital Bank and the Solana Foundation.
In a press release, Western Union said it “will provide users with access to digital assets and enable the ability to send, receive, spend and hold USDPT through a seamless user experience supported by our global compliance and risk capacities.”
The stablecoin will be issued by Anchorage Digital Bank, a federally regulated platform known for its digital asset custody services. Western Union plans to make this stablecoin available in the first half of 2026 through partner exchanges.
Western Union also announced the launch of a new Digital Asset Network, which will help connect digital money to real-world payments, so it would be easy for users to move cash or crypto across countries more smoothly.
“Our Digital Asset Network and USDPT will be an enabler in achieving our mission to make financial services accessible to people everywhere,” the company added.
Stablecoins have been gaining popularity among financial institutions recently following the approval of the GENIUS act, which was signed into law in July. According to CoinMarketCap, this sector has a market cap of $312 billion, up nearly 50% this year
Analysts expect it to reach $750 billion by the end of 2026, as firms like PayPal, JPMorgan, and Zelle join the race to issue their own tokens under the GENIUS Act.
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