A 175-year-old payments industry firm, Western Union, is preparing to issue a U.S. dollar-backed stablecoin called USDPT on the Solana blockchain in the first half of 2026, aiming to modernize its global transfer services and reduce reliance on traditional currency rails. The initiative reflects Western Union’s strategic pivot toward digital-asset infrastructure and cross-border crypto payments, leveraging blockchain to potentially lower costs and increase speed for its ~100 million customers. However, the move carries significant regulatory, compliance, and integration risks, given the evolving landscape of fiat-backed tokens and the company’s historic caution toward crypto.

Payments Veteran Launches Stablecoin on Solana