Western Union Prepares USDPT Stablecoin Launch

Western Union is aiming to roll out its new stablecoin in May as part of a broader digital asset strategy that also includes a proprietary network and a US dollar-backed payment card.

“Over the last few months, we've crossed an important threshold. It is no longer a question of if Western Union will be active in digital assets, it is now how fast can we scale,” said Devin McGranahan during the company’s first-quarter earnings call on Friday. “At the foundation of our strategy is USDPT, our US dollar-backed stablecoin. USDPT is now in its final stages of readiness and is expected to go live next month,” he added.

The move reflects a wider trend, with traditional financial institutions increasingly exploring stablecoins. According to Lamine Brahimi, banks and corporations across Europe are actively selecting infrastructure partners to support stablecoin adoption.

Partnerships and digital asset network expansion

Western Union first revealed plans for the stablecoin in October, noting it would be built on Solana and issued by Anchorage Digital Bank. The company intends to integrate USDPT with its digital asset network to enable seamless usage.

McGranahan said exchange partners will help with access, conversion, and distribution of USDPT, while banking and financial institution partners in key corridors will support settlement and treasury functions. “Together, these relationships position USDPT as a foundational asset for scaling digital payments and settlement across our platform,” he added.

At present, US dollar-backed stablecoins dominate the roughly $320 billion market. Tether (USDT) leads with a market capitalization exceeding $189.7 billion, followed by USD Coin (USDC) at $77.7 billion and Sky Dollar at $8.2 billion, based on data from DefiLlama.

Stable card and future plans

McGranahan also highlighted progress on Western Union’s digital asset network (DAN), which is designed to facilitate the movement of stablecoins and other cryptocurrencies across its global payments infrastructure while linking them to real-world cash access. The network is expected to onboard its first partner this week.

“Our partner pipeline represents tens of millions of crypto wallets globally, creating a powerful distribution channel that brings digital asset users directly into Western Union's retail and digital network, solving an industry-wide issue of ramping from crypto to cash as a safe and effective utility,” he said.

The company previously announced that DAN will enable users to convert digital dollars into local currencies at more than 360,000 locations worldwide. In addition, Western Union is planning to introduce a US dollar stable card later this year, allowing users to hold and spend stablecoins more easily.

Sources:

https://ir.westernunion.com/news/archived-press-releases/press-release-details/2025/Western-Union-Announces-USDPT-Stablecoin-on-Solana-and-Digital-Asset-Network

https://www.prnewswire.com/news-releases/crossmint-partners-with-western-union-to-support-usdpt-stablecoin-and-digital-asset-network-on-solana-302703449.html

https://s21.q4cdn.com/100551446/files/doc_financials/2026/q1/Western-Union-Q1-2026-Earnings-Call.mp4

https://cointelegraph.com/news/western-union-eyes-may-for-its-stablecoin-usdpt-rollout

https://defillama.com/stablecoins