TL;DR:
- Western Union will launch USDPT in June, its Solana-based stablecoin issued by Anchorage Digital Bank for settlements with its agent network.
- The company will also introduce the USD Stable Card in “tens of markets”, allowing users to hold stablecoins and spend them anywhere in the world.
- CEO Devin McGranahan stated that the question is no longer whether Western Union will be in the crypto market, but how fast it can scale.
Western Union is preparing to launch its stablecoin USDPT next month on the Solana blockchain, the company announced during its first quarter 2026 earnings report. The initiative will consolidate the firm’s entry into blockchain infrastructure.
The dollar-backed token was first announced in October 2025 and is now in its “final stages” of preparation. Anchorage Digital Bank will act as issuer of the USDPT, which Western Union designed specifically to settle transactions with its global agent network, not as a mass consumer product. The goal is to end reliance on traditional correspondent banking networks for cross-border payments, a market historically dominated by SWIFT.
Western Union Bets on Digital Assets
Devin McGranahan, CEO and president of the company, was categorical during the presentation: “It is no longer a question of whether Western Union will be active in digital assets, but of how fast we can scale.” McGranahan defined USDPT as “the foundation of our strategy.”
Beyond institutional settlements, Western Union is building a digital ecosystem. Its Digital Asset Network (DAN) will onboard its first partner this week, bridging cryptocurrency wallets with the company’s physical branches. According to McGranahan, millions of wallet users will be able to convert digital assets into local currency through the company’s retail network in an experience designed to be “simple for customers and familiar for agents.”
USD Stable Card: the Consumer-Facing Front
The company also confirmed its plans for the USD Stable Card, set to launch later in 2026 across “tens of markets.” The product will allow users to hold value in stablecoins and spend anywhere in the world. McGranahan noted it is “particularly attractive in inflation-sensitive markets where customers want dollar-denominated value with immediate practical utility.”
Western Union reported adjusted revenues of $983 million in the first quarter of 2026, a 1% year-over-year decline, though with a 400 basis point improvement compared to the fourth quarter.
