Flare CEO Hugo Philion emphasizes that the Western Union deal with Solana does not impact Ripple (XRP) or the XRP Ledger (XRPL) ecosystem in any strategic sense.
Philion issued the statement in reaction to Western Union’s decision to launch its U.S. Dollar Payment Token (USDPT) stablecoin on Solana. The financial behemoth plans to launch USDPT on Solana in the first half of 2026.
Leading digital asset bank Anchorage Digital will handle the issuance of the dollar-pegged stablecoin. This move seeks to support Western Union’s 100 million-user network and enable faster, more cost-efficient global payments.
Western Union’s USDPT initiative aligns with the growing adoption of stablecoins among U.S.-based financial institutions, fueled by clearer regulation under the enacted GENIUS Act.
XRP Army Frustrated by Western Union’s Solana Choice
Notably, several XRP enthusiasts have expressed frustration with the development, particularly because Western Union had been experimenting with Ripple’s payment technology since 2015.
Back then, the company explored Ripple’s blockchain solution to enable faster, cheaper cross-border settlements. Despite running several pilots with XRP in 2018, the financial giant still chose Solana as the network for its upcoming stablecoin.
This led to frustration among the XRP Army, particularly as critics used it to mock XRP’s relevance in payments.
Flare CEO: Western Union-Solana Deal Has No Bearing on Ripple or XRPL
However, Flare CEO Philion stressed that Western Union’s choice of Solana for its stablecoin project does not pose a threat to Ripple or the broader XRPL ecosystem.
According to Philion, Ripple has set its sights on the highly lucrative sectors of trading and asset management, unlike Western Union, which entirely focuses on consumer payments.
This strategic focus is reflected in Ripple’s recent acquisitions of treasury management system provider GTreasury and prime broker Hidden Road (now Ripple Prime).
Flare Complements Ripple and XRPL Win
Furthermore, Philion noted that Flare complements the achievements of Ripple and XRPL by expanding XRP’s capabilities. Notably, Flare enhances XRP’s utility through DeFi integration and cross-chain interoperability, ultimately making XRP more versatile and programmable for future financial use cases.
The firm recently introduced FAssets, a system that allows XRP holders to access yield-generating opportunities on the Flare network. Since its launch in September, the initiative has gained significant traction. Users have bridged over 45.5 million XRP (worth approximately $117.72 million) to mint FXRP, the wrapped version of XRP.
Through these wrapped tokens, participants can engage in DeFi activities such as lending, staking, and liquidity provision across Flare-based platforms, including Kinetic, MoreMarkets, BlazeSwap, and SparkDEX.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
