Western Union (NYSE: WYU), one of the world’s oldest payments companies, has announced plans to launch its own U.S. dollar–backed stablecoin, marking a bold new chapter in its 175-year history.
The stablecoin, dubbed the U.S. Dollar Payment Token (USDPT), will be built on the Solana blockchain and issued by Anchorage Digital Bank, the first federally chartered crypto bank in the United States.
The company described USDPT as part of a broader “Digital Asset Network,” designed to bridge fiat and digital currencies, enabling users to send, receive, spend, and hold tokens while maintaining access to cash-based services via Western Union’s massive global footprint.
“As we evolve into the digital assets space, Western Union’s USDPT will allow us to own the economics linked to stablecoins,” said Devin McGranahan, Western Union’s President and CEO.
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“Our Digital Asset Network and USDPT will be an enabler in achieving our mission to make financial services accessible to people everywhere," McGranahan added.
USDPT will debut in the first half of 2026, with access provided through partner exchanges, according to the press release.
Western Union, which moves hundreds of billions of dollars annually across more than 200 countries, aims to use the token to streamline cross-border remittances — a sector long criticized for high fees and sluggish transaction times.
Western Union is approximately 174 years old — it was founded in 1851 in Rochester, New York. Originally established as the New York and Mississippi Valley Printing Telegraph Company, it became Western Union in 1856 and went on to build the first transcontinental telegraph line in 1861.$SOL #WesternUnion