Western Union Financial Services has confirmed that it will use Solana’s blockchain to implement its stablecoin payment system.
The company announced the system during its third quarter earnings call, last week. It will consist of US Dollar Payment Tokens and Digital Asset Networks, built with Anchorage Digital Bank. Western Union will also be a partner. said Tuesday is the day.
USDPT, the new currency, is set to be launched in the first quarter of 2026. Customers will have access via partner exchanges for a wider range of accessibility.PYUSDBinance as well as other exchanges list the stablecoin.
The Digital Asset Network, it added, will act as an exit ramp for cash from the remittance platform’s More than 150 millions customers in more than 200 countries.
Speaking Western Union’s CEO Devin McGranahan told the Money 20/20 USA Conference in Las Vegas that his team had compared other options and decided on Solana as the best. “right choice” For building an institutionally-ready stablecoin.
“For 175 years, we’ve been connecting people, moving $150 billion a year. Digital assets is the next evolution.
We looked at alternatives, and came to the conclusion that Solana was the right choice.”
– Devin McGranahan, CEO, Western Union pic.twitter.com/8ni2b47ktk
— Solana (@solana) October 28, 2025
Blockchain is increasingly being used by traditional payment platforms for international remittances. The technology, according to its proponents, can be faster, cheaper, and more transparent.
MoneyGram, Zelle and Stablecoins make moves
The parent company of Zelle, the payments platform, announced on Friday that it will be closing its Zelle business. launch stablecoins MoneyGram has announced that its system will be integrated with the MoneyGram platform by mid-September. crypto app in Colombia Offer a USDCUSDCThe wallet of the locals.
GENIUS Act helps stablecoins
As a result of signing the stablecoin focused legislation in the US, there is greater regulatory clarity. GENIUS Act In July, President Donald Trump signed the bill into law.
Related: Polymarket will likely start initial US relaunch in November: Report
McGranahan stated last week that Western Union originally refrained from cryptocurrency due to concerns about market volatility, regulatory uncertainties and customer protection. However, the passage of the GENIUS Act has changed this course.
In April, the US Treasury Department estimated that stablecoins were worth $2.4 billion. $311.5 billion Estimates suggest that by 2025, the world population will reach $2 trillion by 2028.
Western Union has announced its entry into the stablecoin market, just over three months since it made first hints at plans to integrate stablecoins In July, there are many holidays.
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Source: cointelegraph.com
