Western Union has launched its USDPT stablecoin denominated in US dollars on the Solana platform, marking the first step towards blockchain-based payments and onchain settlements for the global remittance network.
One of the crypto infrastructure platforms involved in the launch, Fireblocks, he said on Monday, it was reported that USDPT is initially being rolled out in Bolivia and the Philippines, while in Western Union he said plans to expand the stablecoin to over 40 countries in 2026.
Major remittance companies have become interested in stablecoins following the passage of the stablecoin-friendly GENIUS Act in July. MoneyGram began offering USDC (USDC) stablecoin services in Colombia in September, while Zelle announced plans to offer stablecoin-powered cross-border transfers in October.
Western Union said “the launch of USDPT reflects a broader shift in the evolution of global payments,” adding that in the future, more financial institutions will adopt “regulated digital assets as core infrastructure.”
Current stablecoin market capitalization sits at USD 317.3 billion, which, according to estimates by the US Treasury Department and Wall Street investment bank Citigroup, will exceed USD 2 trillion by 2030.
Source: WesternUnion
Western Union will make USDPT available on cryptocurrency exchanges
USDPT is issued by crypto infrastructure company Anchorage Digital, the first federally regulated cryptocurrency bank in the US, while Fireblocks provides the wallet and settlement infrastructure for the stablecoin.
Western Union said it plans to make USDPT available on licensed cryptocurrency exchanges and connect them to broader payment and liquidity infrastructure.
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The launch of USDPT in Bolivia and the Philippines makes the stablecoin available to a total of 130 million people.
On Sunday, former Bybit chief marketing officer Claudia Wang said remittance companies like Western Union have an opportunity to tap into the many intact remittance corridors in the Americas, which have become a $174 billion market.
She said remittance corridors between the United States and Central America are exploding, while many routes from Latin America – such as from Argentina to Bolivia – remain “almost untouched by crypto rails.”
Western Union facilitates money transfers for over 150 million customers in over 190 countries.
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