A mixed 130 million folks in Bolivia and the Philippines now have entry to Western Union’s new digital greenback, USDPT — a US dollar-backed stablecoin operating on the Solana blockchain.
A Huge Identify Makes Its Blockchain Debut
Western Union, which strikes cash for greater than 150 million prospects throughout greater than 190 international locations, has made its first transfer into blockchain-based funds.
The corporate launched USDPT on Monday, marking a big shift for one of many world’s oldest and largest cash switch networks. Plans are already in place to roll the stablecoin out to greater than 40 international locations earlier than the tip of 2026.
The infrastructure behind USDPT includes two main gamers within the crypto house. Anchorage Digital, the primary federally regulated crypto financial institution within the US, is issuing the stablecoin.
We’re blissful to announce the launch of USDPT, Western Union’s USD‑backed stablecoin — issued by @Anchorage and constructed on @solana — bringing blockchain settlement into our international, regulated funds community. Observe @USDPT_ for updates. Study extra: https://t.co/t6h28rhbaz pic.twitter.com/aX6WNJIEoz
— Western Union (@WesternUnion) Could 4, 2026
Fireblocks, a crypto infrastructure agency, is dealing with pockets and settlement operations. Western Union mentioned it additionally plans to make USDPT accessible on licensed crypto exchanges and join them to its broader funds and liquidity community.
Remittance Giants Eye Blockchain Rails
Western Union shouldn’t be alone on this push. MoneyGram began providing USDC stablecoin providers in Colombia in September. Zelle introduced plans for stablecoin-powered cross-border transfers in October.
The wave of exercise amongst remittance corporations follows the passage of the GENIUS Act in July, a bit of US laws broadly seen as favorable to stablecoin growth.
Western Union mentioned the launch displays a broader shift in how international funds are transferring, and that extra monetary establishments are anticipated to undertake regulated digital belongings as core infrastructure going ahead.
The Philippines was a pure selection for an early rollout. Remittances make up a big a part of the nation’s financial system, and stories word that corridors between the US and Central America are increasing quick.
In line with Bybit’s former chief advertising officer, Claudia Wang, many routes inside Latin America — akin to from Argentina to Bolivia — have been largely untouched by crypto-based cost programs, making them ripe for brand spanking new entrants. She described the Americas as a $174 billion remittance market.
Room To Develop In A Quick-Increasing Market
The stablecoin market is already giant and broadly anticipated to get a lot bigger. Knowledge exhibits the entire market cap presently stands at $317 billion.
Each the US Division of the Treasury and Citigroup have projected that determine might climb previous $2 trillion by 2030.
Featured picture from Unsplash, chart from TradingView
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