DENVER—Western Union has launched USDPT, its own U.S. dollar-denominated payment stablecoin, moving the legacy money-transfer company deeper into digital assets as it looks to modernize cross-border settlement and build new consumer payment products. The token is fully backed by U.S. dollars, issued by Anchorage Digital Bank N.A. and built on Solana, Western Union said.
The company said USDPT will operate inside Western Union’s payment systems as an always-on settlement asset, with use cases including global exchange support, its Digital Asset Network, a consumer-facing “Stable by Western Union” spending capability slated for 2026 in more than 40 countries, and 24/7 Treasury and agent settlement.
Western Union also selected Fireblocks to provide wallet, settlement and financial operations infrastructure for USDPT. Fireblocks said the rollout will begin in the Philippines and Bolivia before expanding across Western Union’s global network this year, with Dynamic embedded wallets and TRES financial reporting tools also supporting the program.
The launch follows Western Union’s April earnings call, when CEO Devin McGranahan said USDPT, the Digital Asset Network and Stable Card were moving into execution mode. PYMNTS reported the company is looking to stablecoins and M&A for growth after a quarter pressured by declines in its Americas retail business, with management positioning USDPT as a bridge between fiat and crypto, a way to reduce settlement costs, and a potential new business line.