Global payments giant Western Union has announced plans to introduce a U.S. dollar-backed stablecoin named USDPT in 2026.
In a joint statement with the Solana Foundation, the firm stated that the token will be issued by Anchorage Digital Bank, a federally regulated crypto custodian. Furthermore, the stablecoin will be available through partner exchanges, allowing users to send, receive, spend, and hold USDPT.
Western Union said it aims to combine its global compliance expertise with blockchain innovation to deliver secure, transparent, and efficient transactions.
Expanding Digital Access Worldwide
In addition, Western Union stated that USDPT will be part of a broader Digital Asset Network to bring real-world utility to digital assets. The company noted that the initiative aligns with its mission to expand access to financial services worldwide.
Although Western Union did not disclose whether the network will support other cryptocurrencies, it emphasized that the system will simplify how people use and manage digital value.
Stablecoin Growth and Market Context
The launch comes as the stablecoin market continues to experience rapid growth. Industry data indicate that total capitalization has surpassed $312 billion, nearly 50% higher than the previous year.
Moreover, Standard Chartered Bank expects the sector to reach $750 billion by the end of 2026. Meanwhile, Ripple projects $2.8 trillion by the end of this decade.
Notably, major financial players, including PayPal and JPMorgan, are issuing their own stablecoins. In the United States, several states are considering issuing stablecoins under the newly enacted GENIUS Act.
Signed into law by President Donald Trump in July 2025, the act establishes a national framework for regulating digital assets.
Currently, Tether’s USDT leads the sector with a market capitalization of $183 billion. Circle’s USDC follows, at approximately $76 billion, with both ranking among the world’s largest cryptocurrencies by value.
Solana Role in the Launch
The Solana blockchain, which powers the sixth-largest cryptocurrency, SOL, will serve as the foundation for USDPT. Known for its high-speed, low-cost transactions, Solana is widely used in payments, decentralized exchanges, and blockchain-based games.
At the time of writing, SOL was trading near $194, down 4.3% in 24 hours and 6.9% for the month, according to CoinGecko data.
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