Western Union is among several remittance companies that announced plans for stablecoins after the US passed the stablecoin-friendly GENIUS Act in July.
Western Union has introduced its US dollar–backed USDPT stablecoin on Solana, marking its first step into blockchain-based payments and on-chain settlement across its global remittance network.
Fireblocks, one of the crypto infrastructure platforms involved in the launch, said on Monday that USDPT is being rolled out first in Bolivia and the Philippines, while Western Union said it plans to expand the stablecoin to more than 40 countries in 2026.
Major remittance firms have been exploring stablecoins since the stablecoin-friendly GENIUS Act was passed in July. MoneyGram began offering USDC stablecoin services in Colombia in September, while Zelle announced plans in October to introduce stablecoin-powered cross-border transfers.
Western Union said the “launch of USDPT reflects a broader shift in how global payments are evolving,” adding that regulated digital assets will be adopted by more financial institutions as core infrastructure going forward.
The stablecoin market cap currently stands at $317.3 billion, a figure that has been projected by the US Department of the Treasury and Citigroup to exceed $2 trillion by 2030.
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Western Union Plans to List USDPT Stablecoin on Crypto Exchanges#
USDPT is issued by crypto infrastructure firm Anchorage Digital, the first federally regulated crypto bank in the US, while Fireblocks provides the wallet and settlement infrastructure for the stablecoin.
Western Union said it plans to make USDPT available on licensed crypto exchanges and link it with its broader payments and liquidity infrastructure.
USDPT’s rollout in Bolivia and the Philippines makes the stablecoin accessible to a combined population of about 130 million people.
On Sunday, Bybit’s former chief marketing officer, Claudia Wang, said there is an opportunity for money transfer firms like Western Union to tap into largely untapped remittance corridors in the Americas, now a $174 billion market.
She said remittance corridors between the US and Central America are expanding rapidly, while many routes within Latin America—such as from Argentina to Bolivia—have remained almost untouched by crypto rails.
Transfers are facilitated by Western Union for more than 150 million customers across over 190 countries.
