Western Union has announced the adoption of the Solana blockchain for its Digital Asset Network and the USDPT stablecoin, anticipated to be launched in the first half of 2026.
This announcement was made during last week’s third-quarter earnings call, where it was stated that the system would be developed in conjunction with Anchorage Digital Bank. The company aims to facilitate customer access through partner exchanges, similar to how PayPal USD (PYUSD) is distributed on Binance and other exchange platforms.
Furthermore, the Digital Asset Network is intended to provide a cash off-ramp for over 150 million customers of the remittance service, which operates in more than 200 countries.
At the Money 20/20 USA conference in Las Vegas, CEO Devin McGranahan emphasized the thorough evaluation of various alternatives, ultimately determining that Solana was the best fit for establishing a stablecoin infrastructure:
“For 175 years, we’ve been connecting people, moving $150 billion a year. Digital assets is the next evolution. We looked at alternatives, and came to the conclusion that Solana was the right choice.”
- Devin McGranahan, CEO, Western Union
The interest in stablecoins is growing among traditional remittance platforms, which advocate that blockchain technology offers a quicker, more economical, and clearer method for cross-border transactions. On another note, Zelle’s parent company recently announced plans to implement stablecoins to enhance payment speeds, while MoneyGram is set to launch a USDC wallet in Colombia to serve local residents.
The increasing use of stablecoins aligns with clearer regulations in the U.S., following the enactment of the GENIUS Act in July. Although Western Union had historically hesitated to enter the crypto space due to volatility and regulatory concerns, the passage of this act has changed their strategy.
The U.S. Treasury projects the stablecoin sector will grow from its current valuation of $311.5 billion to $2 trillion by 2028, indicating a significant potential for future developments in this area.
