The payments company partners with Anchorage Digital Bank to issue the digital asset.
The stablecoin, whose ticker will be USDPT, will be operational from 2026.
Financial services company Western Union plans to launch its own stablecoin pegged to the US dollaraccording to a Wall Street Journal report.
The new digital asset, called US Dollar Payment Token (USDPT), will be issued on the Solana network in partnership with Anchorage Digital Bank, an entity with federal bank status in the United States.
The launch is planned for the first half of 2026. With this initiative, Western Union seeks to offer its more than 100 million customers an alternative to make international transfers that mitigates the risks associated with the fluctuation of local currencies.
According to the company, the use of this stablecoin in Solana could allow a reduction in costs and faster settlement of transactions. Devin McGranahan, president and CEO of Western Union, pointed out that the foray into digital assets and stablecoins represents “the next chapter” in the company’s history of connecting people through technology.
Just yesterday, CriptoNoticias reported that Western Union was testing stablecoins to incorporate into its treasury.
Solana’s choice how the infrastructure for this project aligns with the growing adoption of this network for applications that require a high performance and low transaction costs.