Historic funds community Western Union has introduced plans to launch its personal stablecoin on the Solana community in 2026. The brand new dollar-backed stablecoin will allow 100 million clients to ship cash internationally, insulated from native fiat forex fluctuations and dangers.
The US Greenback Fee Token (USDPT) shall be constructed on the Solana blockchain and issued by Anchorage Digital Financial institution, in response to Western Union’s Tuesday announcement. The digital token is predicted to launch within the first half of 2026 and shall be accessible to clients by Western Union’s accomplice exchanges. Solana’s Layer 1 blockchain community is dwelling to a lot of profitable stablecoins, and Western Union’s coin is probably one of the crucial essential.
“Whereas we’re removed from ubiquitous with the telegraph, the concept of connecting folks and leveraging know-how to do it’s deeply rooted in our 175-year-old roots,” mentioned Western Union President and CEO Devin McGranahan. “The transition to digital belongings and stablecoins is simply the following chapter in an extended journey to carry folks collectively by know-how.”
In 2025, stablecoins will dominate the monetary sector. A number of prime monetary establishments, together with Financial institution of America and JP Morgan, are supporting the trade and issuing their very own dollar-backed cash. Western Union is likely one of the world’s oldest cost networks, having constructed the primary transcontinental telegraph line in 1861. The corporate’s entry into the stablecoin trade will lead Western Union additional into the monetary revolution and preserve its relevance in a rising trade.
The market capitalization of the stablecoin market is already over $300 billion. Western Union transfers a whole bunch of billions of {dollars} yearly. Subsequently, if the Western Union USDPT stablecoin beneficial properties traction, there may very well be an enormous inflow of funds into the present stablecoin market.
