Western Union’s Stablecoin Progress

The financial services firm Western Union is nearing completion on its U.S. dollar-backed token, USDPT, as it prepares to enter the stablecoin market.

New Integrations for Stablecoins

Two new services are being introduced by Western Union to enhance integration of its stablecoin into a broader ecosystem. The USD Stable Card, expected later this year, will enable consumers to hold value in Western Union’s stablecoins and use it globally.

The Digital Asset Network aims to link crypto wallets with Western Union’s existing retail and agent network using USDPT.

Revenue Challenges in Consumer Transfers

Though stablecoins are growing in business-to-business cross-border transactions, Western Union’s core consumer remittance services have seen a decline. In 2025, consumer money-transfer revenue constituted 87% of total revenue but dropped by 3% in the first quarter.

USDPT is mainly designed for internal settlement within Western Union’s global agent network rather than as a direct consumer product.

Solana’s Role in Western Union’s Enterprise

Western Union has been working with Solana to develop its stablecoin, leveraging the blockchain network for cost-effectiveness and specialized features. The company joined Solana Foundation’s enterprise developer program this year to explore payment applications on the platform.

Solana’s lower transaction fees and advanced token capabilities make it a favorable choice over Ethereum, where costs can be significantly higher.