Western Union to Launch Solana-Based Stablecoin Plus ‘Stable Card’ Next Month

Global financial services giant Western Union will launch its Solana-based stablecoin USDPT next month, the company said during its Q1 earnings call.

“It is no longer a question of if Western Union will be active in digital assets, it is now how fast we can scale,” the firm’s CEO and President Devin McGranahan said during the presentation, calling USDPT, “the foundation of our strategy.”

First announced in October 2025, the U.S. dollar-backed stablecoin is in the “final stages” of preparation, the firm said. Anchorage Digital Bank will serve as the issuer for USDPT, which Western Union designed specifically for settling with its global agent network rather than as a consumer-facing product.

The initiative marks Western Union’s pivot toward blockchain infrastructure for core business operations, targeting the institutional settlement market where traditional correspondent banking networks have long dominated cross-border payments.

Western Union’s digital asset ecosystem

Beyond agent settlements, Western Union is building a broader digital asset ecosystem. The company’s Digital Asset Network (DAN) will onboard its first partner this week, creating a bridge between cryptocurrency wallets and Western Union’s physical locations.

“Through DAN, millions of wallet users will be able to move from digital assets into local currency using Western Union’s retail network with an experience that is simple for customers and familiar for our agents,” McGranahan said, adding that the firm has seen “strong inbound interest” since announcing its initial partners.

The company also revealed plans for its USD Stable Card, scheduled to launch later this year across “dozens of markets,” McGranahan said. The Stable Card, which will enable consumers to hold value in stablecoins and spend them around the world, is “particularly compelling in inflation-sensitive markets where customers want dollar-denominated value with immediate practical utility,” he added.

Ultimately, McGranahan said, the Stable Card will be, “consumer facing expression, connecting USDPT, digital asset, retail customers, global spending, into a single, integrated, easy consumer experience.”

Western Union reported adjusted revenue of $983 million in the first quarter of 2026, down 1% year-over-year but marking a 400-basis-point improvement from Q4.

The firm’s stablecoin launch follows the company’s earlier announcement in December about building on Solana’s enterprise platform alongside Mastercard and Worldpay. The move forms part of a broader trend of traditional financial institutions exploring stablecoin infrastructure, with Wells Fargo applying for a WFUSD trademark signaling potential crypto integration and Citi reportedly mulling its own stablecoin offering for cross-border payments.