Western Union Launches USDPT Stablecoin on Solana in May
Western Union will launch USDPT, a US dollar-backed stablecoin, on the Solana blockchain in May 2026. A stablecoin is a digital token pegged to a fixed value — in this case, one US dollar. The token will be issued by Anchorage Digital Bank, the first federally chartered crypto custody institution in the United States. CEO Devin McGranahan confirmed the launch timeline on 24 April 2026 during the company's first-quarter earnings call.
"At the foundation of our strategy is USDPT, our US dollar-backed stablecoin.", 24 April 2026 — Devin McGranahan, CEO & President, Western Union
USDPT replaces SWIFT for agent settlementsUSDPT is a backend settlement tool, not a consumer product. Western Union currently uses SWIFT — the global interbank messaging network — to settle funds with its agent offices worldwide. That process takes two to three business days and stops on weekends and public holidays. Solana processes transactions around the clock, including holidays. The first Digital Asset Network (DAN) partner went live during the week of 27 April 2026. Seven more DAN partners are expected to activate before the end of 2026.
Solana processed $650 billion in stablecoin volumeWestern Union selected Solana based on its transaction capacity and cost. In February 2026, the Solana network processed a record $650 billion in stablecoin transactions in a single month — more than double its previous monthly record. The network's median transaction fee is $0.00064, well below one US cent. PayPal and Fiserv have each launched separate stablecoins on Solana for similar infrastructure reasons.
Stablecoin market exceeds $300 billion in 2026The total market value of dollar-pegged stablecoins exceeded $300 billion in 2026, reaching approximately $320 billion by March 2026. Research firm Juniper Research published a report on 27 April 2026 projecting that cross-border business-to-business stablecoin payments will reach $5 trillion by 2035, up from $13.4 billion in 2026. Western Union reported GAAP revenue of $983 million in Q1 2026, flat year-over-year. Adjusted revenue declined 1% over the same period. The company's stock closed at $8.90 on 24 April 2026, the day McGranahan announced the stablecoin strategy. "At the foundation of our strategy is USDPT, our US dollar-backed stablecoin.", 24 April 2026 — Devin McGranahan, CEO & President, Western Union
USDPT replaces SWIFT for agent settlementsUSDPT is a backend settlement tool, not a consumer product. Western Union currently uses SWIFT — the global interbank messaging network — to settle funds with its agent offices worldwide. That process takes two to three business days and stops on weekends and public holidays. Solana processes transactions around the clock, including holidays. The first Digital Asset Network (DAN) partner went live during the week of 27 April 2026. Seven more DAN partners are expected to activate before the end of 2026.
Solana processed $650 billion in stablecoin volumeWestern Union selected Solana based on its transaction capacity and cost. In February 2026, the Solana network processed a record $650 billion in stablecoin transactions in a single month — more than double its previous monthly record. The network's median transaction fee is $0.00064, well below one US cent. PayPal and Fiserv have each launched separate stablecoins on Solana for similar infrastructure reasons.
Stablecoin market exceeds $300 billion in 2026The total market value of dollar-pegged stablecoins exceeded $300 billion in 2026, reaching approximately $320 billion by March 2026. Research firm Juniper Research published a report on 27 April 2026 projecting that cross-border business-to-business stablecoin payments will reach $5 trillion by 2035, up from $13.4 billion in 2026. Western Union reported GAAP revenue of $983 million in Q1 2026, flat year-over-year. Adjusted revenue declined 1% over the same period. The company's stock closed at $8.90 on 24 April 2026, the day McGranahan announced the stablecoin strategy. USDPT replaces SWIFT for agent settlementsUSDPT is a backend settlement tool, not a consumer product. Western Union currently uses SWIFT — the global interbank messaging network — to settle funds with its agent offices worldwide. That process takes two to three business days and stops on weekends and public holidays. Solana processes transactions around the clock, including holidays. The first Digital Asset Network (DAN) partner went live during the week of 27 April 2026. Seven more DAN partners are expected to activate before the end of 2026.
Solana processed $650 billion in stablecoin volumeWestern Union selected Solana based on its transaction capacity and cost. In February 2026, the Solana network processed a record $650 billion in stablecoin transactions in a single month — more than double its previous monthly record. The network's median transaction fee is $0.00064, well below one US cent. PayPal and Fiserv have each launched separate stablecoins on Solana for similar infrastructure reasons.
Stablecoin market exceeds $300 billion in 2026The total market value of dollar-pegged stablecoins exceeded $300 billion in 2026, reaching approximately $320 billion by March 2026. Research firm Juniper Research published a report on 27 April 2026 projecting that cross-border business-to-business stablecoin payments will reach $5 trillion by 2035, up from $13.4 billion in 2026. Western Union reported GAAP revenue of $983 million in Q1 2026, flat year-over-year. Adjusted revenue declined 1% over the same period. The company's stock closed at $8.90 on 24 April 2026, the day McGranahan announced the stablecoin strategy. USDPT is a backend settlement tool, not a consumer product. Western Union currently uses SWIFT — the global interbank messaging network — to settle funds with its agent offices worldwide. That process takes two to three business days and stops on weekends and public holidays. Solana processes transactions around the clock, including holidays. The first Digital Asset Network (DAN) partner went live during the week of 27 April 2026. Seven more DAN partners are expected to activate before the end of 2026.
Solana processed $650 billion in stablecoin volumeWestern Union selected Solana based on its transaction capacity and cost. In February 2026, the Solana network processed a record $650 billion in stablecoin transactions in a single month — more than double its previous monthly record. The network's median transaction fee is $0.00064, well below one US cent. PayPal and Fiserv have each launched separate stablecoins on Solana for similar infrastructure reasons.
Stablecoin market exceeds $300 billion in 2026The total market value of dollar-pegged stablecoins exceeded $300 billion in 2026, reaching approximately $320 billion by March 2026. Research firm Juniper Research published a report on 27 April 2026 projecting that cross-border business-to-business stablecoin payments will reach $5 trillion by 2035, up from $13.4 billion in 2026. Western Union reported GAAP revenue of $983 million in Q1 2026, flat year-over-year. Adjusted revenue declined 1% over the same period. The company's stock closed at $8.90 on 24 April 2026, the day McGranahan announced the stablecoin strategy. Western Union selected Solana based on its transaction capacity and cost. In February 2026, the Solana network processed a record $650 billion in stablecoin transactions in a single month — more than double its previous monthly record. The network's median transaction fee is $0.00064, well below one US cent. PayPal and Fiserv have each launched separate stablecoins on Solana for similar infrastructure reasons.
Stablecoin market exceeds $300 billion in 2026The total market value of dollar-pegged stablecoins exceeded $300 billion in 2026, reaching approximately $320 billion by March 2026. Research firm Juniper Research published a report on 27 April 2026 projecting that cross-border business-to-business stablecoin payments will reach $5 trillion by 2035, up from $13.4 billion in 2026. Western Union reported GAAP revenue of $983 million in Q1 2026, flat year-over-year. Adjusted revenue declined 1% over the same period. The company's stock closed at $8.90 on 24 April 2026, the day McGranahan announced the stablecoin strategy. The total market value of dollar-pegged stablecoins exceeded $300 billion in 2026, reaching approximately $320 billion by March 2026. Research firm Juniper Research published a report on 27 April 2026 projecting that cross-border business-to-business stablecoin payments will reach $5 trillion by 2035, up from $13.4 billion in 2026. Western Union reported GAAP revenue of $983 million in Q1 2026, flat year-over-year. Adjusted revenue declined 1% over the same period. The company's stock closed at $8.90 on 24 April 2026, the day McGranahan announced the stablecoin strategy. Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment. All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions. Coinpaprika is not liable for any losses resulting from the use of this information.