Western Union Set to Launch USDPT on Solana Blockchain Next Month

Western Union, one of the world's largest cross-border payment networks, is preparing to launch its U.S. dollar-backed stablecoin, USDPT, on the Solana blockchain next month. This move represents a strategic shift by Western Union towards using blockchain-based settlement infrastructure to improve efficiency and reduce costs in cross-border payments.

The rollout of USDPT will initially target agent settlements in selected markets, positioning it as an alternative to legacy payment rails such as correspondent banking networks. The company's decision to use Solana reflects a broader trend among financial firms selecting high-throughput networks for stablecoin issuance and settlement.