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 prospects to ship cash internationally, insulated from native fiat foreign money fluctuations and dangers.
The US Greenback Cost Token (USDPT) shall be constructed on the Solana blockchain and issued by Anchorage Digital Financial institution, in accordance with Western Union's Tuesday announcement. The digital token is anticipated to launch within the first half of 2026 and shall be accessible to prospects by way of Western Union's companion exchanges. Solana's Layer 1 blockchain community is dwelling to numerous profitable stablecoins, and Western Union's coin is probably some of the vital.
“Whereas we’re removed from ubiquitous with the telegraph, the concept of connecting folks and leveraging expertise 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 a protracted journey to carry folks collectively by way of expertise.”
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 among the world's oldest fee 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. Due to this fact, if the Western Union USDPT stablecoin beneficial properties traction, there may very well be an enormous inflow of funds into the present stablecoin market.
