Western Union plans to launch its USDPT stablecoin next month as part of a wider move into digital assets.
Summary
- Western Union expects USDPT to go live in May for faster settlement across payment corridors.
- The Digital Asset Network will connect crypto wallets with Western Union’s large global cash-out network.
- A planned Stable Card will let consumers hold and spend dollar-backed stablecoins later this year.
The company said the token is in its final stage of readiness after months of preparation.
CEO Devin McGranahan said during the firm’s first-quarter earnings call that Western Union has moved past the planning stage. He said, “It is no longer a question of if Western Union will be active in digital assets; it is now how fast we can scale.”
USDPT will support settlement, not retail users
USDPT will be a U.S. dollar-backed stablecoin built on Solana and issued by Anchorage Digital Bank. Western Union first announced the stablecoin in October as part of its plan to modernize money movement.
McGranahan said USDPT will not launch as a direct consumer-facing stablecoin. Instead, the company plans to use it as an alternative settlement tool with agents, including in select countries and core payment corridors.
Additionally, Western Union is also launching its Digital Asset Network, known as DAN. The platform will connect crypto wallets with Western Union’s retail and agent network, helping users convert digital assets into local currency.
The company said the first DAN partner is expected to go live this week. McGranahan said, “Millions of wallet users will be able to move from digital assets into local currency using Western Union’s retail network.”
Stable Card planned for global consumers
Western Union also plans to launch a U.S. dollar Stable Card later this year. The card will allow users to hold value in stablecoins and spend across dozens of markets.
The company said the product may serve customers in inflation-sensitive markets who want dollar-denominated value for daily use. McGranahan added that Western Union now aims to scale adoption and embed digital assets into its core money movement platform.
