Global financial service provider Western Union is set to launch its first stablecoin, USDPT, in May 2026. The firm announced the stablecoin in October of 2025, along with the Digital Asset Network in an attempt to bridge digital and fiat currencies. According to Western Union CEP and President Devin B. McGranahan, “It is no longer a question of if Western Union will be active in digital assets; it is now how fast we can scale.” McGranahan further added that the US dollar-based stablecoin is in its final stages, and is “expected to go live next month.“
Why Is Western Union Launching A Stablecoin?
Western Union’s USDPT will launch on the Solana network. USDPT will first be available to its agents, and retail use may follow at a later stage. Western Union currently uses SWIFT for payment settlements, which can be slow and is limited by banking hours. Moving to a blockchain-based stablecoin system could help make transactions faster, as payments can take place 24/7.
Stablecoins have seen incredible growth over the last few years. Many firms have entered the fiat-pegged crypto sector, with Ripple and PayPal being some of the big names. It is not surprising that Western Union has also decided to venture into the stablecoin realm.
It is unclear if Western Union aims to replace SWIFT with its USDPT coin. The firm may use both facets for international settlements to better streamline its pipeline.
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Not only is the firm launching a stablecoin, Western Union is also working on a USD stable card. The firm anticipates to launch the card sometime later this year. The Stable Card will allow users to store stablecoins and spend them globally. According to McGranahan, “The Stable Card is particularly compelling in inflation-sensitive markets where customers want dollar-denominated value with immediate practical utility.“