Western Union has just launched a USD- Peg stablecoin on the Solana blockchain, positioning it as a 24/7 “payment asset” for its cross-border money transfer network in over 200 countries.
According to the announcement , Western Union will roll out USDPT first in the Philippines and Bolivia. This Token is used for treasury management and transaction payments, enabling near-instantaneous 24/7 money transfers between Western Union and its global network of agents.
USDPT will be fully backed by USD and issued by Anchorage Digital Bank NA – the first federally regulated crypto bank in the US. Fireblocks will provide the wallet, payment, and financial operations infrastructure.
Western Union stated that listing USDPT on licensed cryptocurrency exchanges will provide greater access to the company's global payment and liquidation infrastructure. USDPT will also support the user-oriented "Stable by Western Union" feature, scheduled to launch in over 40 countries in 2026.
This move comes as the total supply of USD Peg stablecoins has surpassed $300 billion. Currently, Tether 's USDT and Circle 's USDC remain the two dominant names in the market, accounting for approximately $189.6 billion and $77.6 billion respectively.
Western Union isn't the only one pushing its stablecoin infrastructure. Last week, Visa announced that its stablecoin payment pilot program had reached a "rate" equivalent to $7 billion per year after adding five more blockchains (bringing the total number of supported chains to nine), and supporting more than 130 stablecoin-linked card programs in over 50 countries.
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The article "Western Union Launches USDPT Stablecoin Issued on Solana" first appeared on CoinMoi .
