Western Union Launches Stablecoin on Kraken's Platform

Western Union has launched its USD-backed stablecoin, U.S. Dollar Payment Token (USDPT), on Kraken's platform. The token is designed for enterprise-grade payments and global value transfer, built on the Solana blockchain in collaboration with Anchorage Digital Bank.

Trading of USDPT is live as of July 9, 2026, allowing users to deposit tokens into networks supported by Kraken to participate. However, deposits made using other networks will be lost, highlighting the importance of selecting the correct network for deposit.

The stablecoin enables near real-time settlement and just-in-time liquidity, reducing funding and settlement cycles from days to seconds. This makes it a powerful tool for treasury and remittance operations, particularly in cross-border transactions.