International money transfer system Western Union announced the launch of its stablecoin USDPT, which is already available to users in the Philippines and Bolivia, with a global rollout planned by the end of 2026.
Western Union introduced its own U.S. dollar-pegged stablecoin USDPT. The new digital asset will become part of the company’s global payments infrastructure and will be used for settlements and cross-border transfers.
USDPT is fully backed by U.S. dollars and is issued by Anchorage Digital, the first federally chartered crypto bank in the United States. The stablecoin is deployed on the Solana blockchain and integrated into Western Union’s existing payment network, enabling 24/7 transactions without the delays typical of traditional banking systems.
The project’s technical infrastructure is powered by Fireblocks, a platform that has already processed over $14 trillion in digital transactions. Fireblocks’ infrastructure includes wallets, a settlement system, financial operations solutions, and integrations with more than 2,400 institutional counterparties across 100+ countries. Additional solutions include Dynamic for embedded wallets and TRES for financial reporting compatible with SWIFT banking formats.
In the initial phase, USDPT will be rolled out in the Philippines and Bolivia, where access to dollar liquidity is limited and local currencies are subject to high volatility. Global expansion is planned through 2026.
As part of preparations for USDPT’s market launch, Western Union previously announced a technology partnership with Crossmint, one of the leading providers of enterprise infrastructure for stablecoins and digital wallets.
The company plans to enable USDPT purchases via licensed crypto exchanges and use the stablecoin for internal settlements between Western Union and its agents. This will allow near-instant 24/7 transactions, reduce idle funds, and enable more flexible liquidity management.
In addition, Western Union is developing several services based on USDPT, including:
- Stable by Western Union, a consumer-facing service for payments and fund storage, planned for launch in 2026 in more than 40 countries;
- Digital Asset Network, an infrastructure platform for connecting crypto exchanges and custodial services to Western Union’s payout and liquidity system.
The launch of USDPT marks an important step in Western Union’s digital transformation. The new tool is designed to increase the speed and efficiency of international transfers and reduce reliance on correspondent banks. According to CEO Devin McGranahan, integrating the digital asset creates a more efficient settlement layer for partners, agents, and future user services.
This initiative aligns with a broader trend among major financial institutions adopting regulated digital assets as the foundation of future payment infrastructure.
