TLDR
- Western Union is launching a stablecoin called USDPT on the Solana blockchain
- Crossmint will provide wallet and payment API infrastructure for the project
- Users will be able to convert digital dollars to local currency at 360,000+ cash locations
- The stablecoin targets the $905 billion global remittance market
- Western Union first announced USDPT plans in October 2025, with launch set for first half of 2026
Western Union has partnered with blockchain infrastructure company Crossmint to support the launch of its USDPT stablecoin on the Solana network. The announcement was made Wednesday.
🚨Western Union to Launch USDPT Stablecoin on Solana
Global payments giant @WesternUnion is launching USDPT, a new stablecoin on Solana.@Crossmint will power the wallets and payment APIs connected to Western Union’s Digital Asset Network.
The stablecoin will be redeemable… pic.twitter.com/5ufkSpj23C
— Solana Daily (@solana_daily) March 5, 2026
The partnership will integrate Crossmint’s wallet and payment APIs directly into Western Union’s infrastructure. This allows fintech platforms to move funds using the stablecoin and tap into Western Union’s existing global payout network.
Western Union is building what it calls a Digital Asset Network. The goal is to connect stablecoins to its traditional payout infrastructure.
Users will be able to convert digital dollars into local currencies. This will be possible through more than 360,000 cash pickup locations across more than 200 countries and territories.
Crossmint said its platform serves over 40,000 clients. Its services include smart wallets, on- and off-ramps, and cross-chain stablecoin management.
Malcolm Clarke, Vice President of Digital Assets at Western Union, said the collaboration will connect global wallets and digital platforms with Western Union’s payment infrastructure.
Western Union first announced the USDPT stablecoin in October 2025. It said at that time the Solana-based token would launch in the first half of 2026.
Why Stablecoins Are Attracting Remittance Companies
Traditional cross-border transfers can take days to settle. They often carry fees of several percentage points and do not process on weekends or holidays.
The World Bank estimated global remittances totaled around $905 billion in 2024. The average cost of sending $200 internationally was still around 6% of the transaction amount.
Stablecoins allow dollar-denominated value to move across blockchain networks with near-instant settlement. They also tend to carry lower transaction costs than traditional payment rails.
According to Chainalysis, stablecoins account for more than half of crypto purchases made in Argentina, Brazil, and Colombia. Demand is driven by inflation and currency instability in those markets.
Solana’s Role in the Expanding Stablecoin Market
Solana was chosen as the blockchain for the USDPT token. It is known for fast transaction speeds and low fees, which suits high-volume payment use cases.
Strong crypto adoption has also been recorded in Nigeria, Turkey, the Philippines, and Vietnam. These countries rank among the top globally for grassroots crypto usage, according to Chainalysis.
At the World Economic Forum in Davos in January, former UN under-secretary-general Vera Songwe said stablecoins are gaining traction across Africa as a remittance alternative. She noted that remittance flows now matter more to African economies than foreign aid.
Western Union has operated a global money transfer network for decades. It supports payments across more than 130 currencies through retail locations, bank accounts, and digital wallets.
The USDPT launch is currently scheduled for the first half of 2026.
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