Western Union is preparing to revolutionize money transfers with the launch of a new stablecoin on the Solana blockchain. The company plans to release USDPT, a US Dollar Payment Token, by the first half of 2026. This stablecoin will leverage Anchorage Digital Bank’s secure issuance platform and custody services for robust regulation compliance. Users can access USDPT through partner exchanges. Complementing this innovation is Western Union’s Digital Asset Network, designed to facilitate real-world cash withdrawals from crypto holdings. Partnering with wallets and wallet providers, this network enables customers to convert crypto into fiat currency at over 300,000 retail locations worldwide.
The stablecoin sector has witnessed significant growth recently. As of October 28th, monthly transfer volume for stablecoins increased by 35.68% to reach $4.30 trillion. This coincides with a surge in monthly active addresses on the network, reaching 32.41 million. Tether remains dominant, controlling nearly 60% of the market cap.