Global financial services provider Western Union plans to launch its first stablecoin USDPT in May 2026. The company announced a stablecoin together with Digital Asset Network in October 2025, with the aim of bridging digital currencies and fiat currencies. Western Union CEP and President Devin B. McGranahan said:It’s no longer a question of whether Western Union is active in digital assets. Now it’s all about how fast you can scale.McGranahan further added that USD-based stablecoins are in their final stages.Live scheduled for next month.“
Why does Western Union issue a stablecoin?
Western Union’s USDPT launches on the Solana network. USDPT will first be made available to distributors and may then be made available to retailers. Western Union currently uses SWIFT for payment settlement, but it can be slow and is limited by bank business hours. Moving to a blockchain-based stablecoin system could help speed up transactions as payments are made 24/7.
Stablecoins have experienced tremendous growth over the past few years. Many companies such as Ripple and PayPal are entering the fiat-pegged cryptocurrency sector. It also comes as no surprise that Western Union decided to enter the stablecoin space.
It is unclear whether Western Union aims to replace SWIFT with the USDPT coin. The company could use both aspects of international payments to make its pipeline more streamlined.
In addition to launching a stablecoin, the company is also working on developing a USD stablecard. The company plans to release the card later this year. Stable cards allow users to store stablecoins and use them around the world. According to McGranahan, “Stable cards are particularly attractive in inflation-sensitive markets where customers seek dollar-denominated value with immediate utility.“
