Western Union Launches Stablecoin on Solana Blockchain

Global payment giant Western Union has taken a significant step into the world of blockchain-based payments with the launch of its US dollar-denominated stablecoin, USDPT, on the Solana network.

The initial rollout of the stablecoin is limited to Bolivia and the Philippines, where it will be available to over 130 million people. Western Union plans to expand the service to more than 40 countries by 2026.

As part of the launch, Western Union has partnered with crypto infrastructure firm Anchorage Digital to issue USDPT, while Fireblocks is providing wallet and settlement infrastructure for the stablecoin.