Western Union (ticker WU) is planning a stablecoin launch, according to a press release on Tuesday. The news comes a day after the legacy payments giant posted its third-quarter results, showing a surge in digital wallet adoption.
Digital wallets and account-based payouts now make up over 50% of Western Union’s digital transactions, CEO Devin McGranahan said in an earnings call on Monday. He also hinted toward "digital asset-enabled solutions."
Now, Western Union plans to launch a stablecoin in 2026 called USDPT on Solana alongside an "innovative Digital Asset Network."
"Western Union will provide users with access to digital assets, and will enable the ability to send, receive, spend and hold USDPT through a seamless user experience supported by the company’s global compliance and risk capacities," the company wrote.
The token will be issued by Anchorage Digital Bank and is expected to trade on unspecified partner exchanges.
Western Union has a long history of engaging in the blockchain sector, particularly for remittances. The company had a longstanding experimental relationship with Ripple, beginning as early as 2018, for cross-border transfers.
On Monday's earnings call, McGranahan noted the company had been continuing to explore digital asset integrations for the past several months, partially inspired by the introduction of the GENIUS Act. In a July interview with Bloomberg, McGranahan hinted Western Union was examining stablecoin integrations for faster remittances.
