Overview
- Western Union announced the U.S. Dollar Payment Token (USDPT) on Solana with issuance and custody by Anchorage Digital Bank, targeting a first‑half‑2026 debut.
- USDPT will sit at the center of a new Digital Asset Network that links token rails to cash, including partner exchanges and cash on/off‑ramps at Western Union agent locations.
- CEO Devin McGranahan said Solana was chosen after surveying alternatives for an institutional‑grade platform with high throughput and low costs.
- William Blair said stablecoin rails could speed settlement and reduce pre‑funding needs as Western Union shares rose about 6.5% on the news, with more details expected at a Nov. 6 investor day.
- Open questions include reserve transparency, audits, local approvals and Solana’s scalability, as market data show Solana hosts a small share of stablecoin liquidity and reports flagged a new $250 million USDC mint on the network.