Western Union to Issue Solana-Based USDPT Stablecoin to Speed Up Global Money Transfers

Western Union plans to roll out USDPT, a U.S. dollar-pegged stablecoin on Solana, as part of a push to modernize cross-border remittances, CoinDesk reported. The company says the initiative is designed to bridge crypto and traditional currency rails, aiming to deliver faster, lower-cost transfers for more than 100 million users. The token will sit at the center of a new Digital Asset Network (DAN), built to connect digital assets with Western Union's cash-based payout infrastructure. With roughly 360,000 locations across more than 200 countries and regions, the company intends to let users convert crypto balances into cash through its existing global footprint. USDPT is positioned as a real-world settlement asset and an alternative to legacy systems such as SWIFT, which can be slower and more expensive for certain corridors. By using Solana, Western Union is targeting higher throughput and lower transaction costs for cross-border payments. Beyond remittances, Western Union is also exploring a USD-denominated stablecard aimed at users in high-inflation markets who want to spend in dollars, extending the strategy from transfers into everyday payments. The effort is supported by a partnership with Crossmint, which will integrate wallet and payment infrastructure. Under the model, fintech platforms could access USDPT and settle transactions on-chain while using Western Union's payment network for final delivery, linking traditional payout channels with crypto-based settlement.