Western Union Plans To Launch Solana-Based USDPT Stablecoin In May, CEO Says

Western Union is preparing to launch its U.S. dollar-backed stablecoin, USDPT, next month as part of a broader strategy to settle global transactions without SWIFT, CEO Devin McGranahan said during the company’s first-quarter earnings call.

“Western Union eyeing stablecoin launch to settle global transactions without SWIFT, CEO says The 175-year-old money-transfer firm also plans to issue a stablecoin-linked card for payments and cash-out options from crypto to local currencies, CEO Devin McGranahan said”

@coindesk

CoinDesk reports that the 175-year-old money-transfer firm is “on track to launch its U.S. dollar stablecoin USDPT next month,” and that it will initially use USDPT “behind the scenes as an alternative to the SWIFT interbank network.”

@coindesk

McGranahan said Western Union is “not originally launching [USDPT] as consumer-facing,” adding, “We are launching it as an alternative to the interbank SWIFT settlement network that we use today.”

Multiple outlets tied the timeline to May, with Cryptopolitan stating USDPT has a launch timeline set for May and that it will be issued by Anchorage Digital Bank.

AMBCrypto similarly said USDPT is “expected to launch next month,” and that Western Union plans to launch its Digital Asset Network “next week” followed by a stablecoin-linked card later this year.

Decrypt also described the stablecoin as expected to launch “next month,” and quoted McGranahan saying, “It is no longer a question of if Western Union will be active in digital assets; it is now how fast we can scale.”

In parallel, Western Union reported GAAP revenue of $983 million for the first quarter, down 1% year-over-year, according to Unchained Podcast and Decrypt, while Unchained also reported GAAP earnings per share of $0.20 and said WU shares fell 4.6% to $8.90 after the earnings print.

Western Union’s USDPT is built on Solana and issued by Anchorage Digital, with the company positioning the token as a settlement tool rather than a consumer product.

CoinDesk said Western Union announced in October that the “digital dollar will run on Solana (SOL) and will be issued with federally chartered crypto bank Anchorage Digital,” and it described USDPT as “in the final stages of readiness and is expected to launch next month.”

AMBCrypto

Cryptopolitan likewise said USDPT is “built on the Solana blockchain” and “issued by Anchorage Digital Bank, a federally chartered crypto custodian,” and it described the stablecoin as a settlement alternative to SWIFT for transactions between Western Union and its agent network in select countries.

AMBCrypto reported that Western Union “currently relies on traditional banking rails to settle with agents,” and said that process “can take days and may not operate over weekends or holidays,” while stablecoin settlement is intended to move funds “on-chain in real time.”

Decrypt framed the initiative as a pivot toward blockchain infrastructure for “agent settlement operations,” and it reiterated that USDPT is designed for settling with the global agent network rather than as a consumer-facing product.

Several outlets emphasized the operational goal of 24/7 availability, with CoinDesk saying stablecoins could allow Western Union to settle “in real time, including over weekends and holidays,” and Ledger Insights stating that “The key is to enable this 24/7 including at night and weekends.”

The Crypto Times also described the pilot as rolling out in “select countries with key agent partners,” and said on-chain settlement is intended to deliver faster processing “including across weekends and traditional banking holidays when SWIFT rails are closed.”

Alongside USDPT, Western Union is building a Digital Asset Network (DAN) intended to connect crypto wallets to Western Union’s retail and agent footprint, and it is planning a stablecoin-linked card for consumers.

“Western Union’s CEO and president, Devin McGranahan, has confirmed the company’s Solana-basedstablecoinUSDPT is in its “final stages” of preparation and expected to go live next month”

Bitcoin News

CoinDesk described DAN as a way for crypto wallet companies to offer Western Union as a cash-out option, saying that “Through that network, wallet users will be able to convert digital assets into local currency through Western Union’s retail footprint,” and it added that the company said its partner pipeline represents “tens of millions of crypto wallets globally.”

AMBCrypto said Western Union plans to launch its Digital Asset Network “next week,” and it described DAN as enabling “crypto wallet users” to convert digital assets into local currency via Western Union’s retail network.

Decrypt similarly stated that DAN will “onboard its first partner this week,” and quoted McGranahan saying, “Through DAN, millions of wallet users will be able to move from digital assets into local currency using Western Union’s retail network with an experience that is simple for customers and familiar for our agents.”

For the consumer-facing product, CoinDesk reported that Western Union plans to launch a “Stable Card,” expected later this year, letting customers “hold funds in stablecoins and spend through card networks,” while Unchained Podcast said the card is planned to roll out “across dozens of markets later this year.”

Decrypt described the Stable Card as “scheduled to launch later this year across ‘dozens of markets,’” and it quoted McGranahan calling it “particularly compelling in inflation-sensitive markets where customers want dollar-denominated value with immediate practical utility.”

The Crypto Times also said the card is aimed at consumers later in 2026 and that Western Union plans to roll it out “later in 2026 across dozens of markets,” while noting that the company “has not disclosed the specific markets the card will launch in or its card network partner.”

The stablecoin rollout is being discussed alongside Western Union’s recent financial performance and reported business pressures, with multiple outlets tying the crypto strategy to the company’s earnings call.

Unchained Podcast reported that Western Union reported GAAP revenue of $983 million for the first quarter, down 1% year-over-year, and it said GAAP earnings per share came in at $0.20, below the $0.39 consensus estimate.

Ledger Insights

Unchained also said WU shares fell 4.6% to $8.90 after the earnings print, and it attributed the drag to its Americas retail business where transactions fell amid U.S. immigration policy headwinds affecting corridors including the U.S. to Mexico, Ecuador, and Guatemala.

Decrypt similarly reported adjusted revenue of $983 million in the first quarter of 2026, down 1% year-over-year, and it said the firm’s adjusted revenue marked a 400-basis-point improvement from Q4.

The Crypto Times provided additional figures, stating that Western Union reported Q1 2026 GAAP revenue of $983 million, down roughly 1% year-over-year, and it said GAAP earnings per share were $0.20 and adjusted EPS was $0.25, below the $0.39 consensus estimate.

It also reported GAAP operating margin of 13% and adjusted operating margin of 13%, and it said WU stock closed at $8.90 on Friday, April 24, down 4.6% after the earnings print.

CoinDesk and other outlets framed the stablecoin push as coming as the core remittance business faces pressure, with CoinDesk saying “its core remittance business faces pressure” and pointing to rival fintechs and crypto payments firms using blockchain tech for cross-border payments.

Western Union’s stablecoin strategy is also being presented as a competitive move within a broader stablecoin and payments landscape, with outlets pointing to regulatory framing and other companies’ stablecoin efforts.

“Home » Altcoins » Solana (SOL) » Why Western Union Is Becoming a Stablecoin Issuer Rather Than a User Why Western Union Is Becoming a Stablecoin Issuer Rather Than a User Western Union plans USDPT on Solana, marking a strategic shift in stablecoin use and digital payments infrastructure”

DailyCoin

CoinDesk said Western Union’s stablecoin push comes as rival fintechs and crypto payments firms increasingly use blockchain tech for cross-border payments, citing MoneyGram’s interest in Circle’s USDC and Stripe’s stablecoin infrastructure with a payments-focused chain Tempo.

MEXC Exchange

Cryptopolitan described the stablecoin as part of a competitive field with multiple payments companies rolling out their own stablecoins, and it said Western Union’s rollout is initially as a settlement tool rather than a fully-fledged retail consumer product.

The Ledger Insights report described the stablecoin rollout as happening in phases, starting with USDPT, then using WU outlets for on and off-ramps, and finally its own stablecoin accounts via the Stable Card.

Startup Fortune said Anchorage Digital Bank provides “federally chartered crypto bank” standing and referenced the GENIUS Act, stating it was “signed in July 2025” and that it established a “first federal stablecoin framework in the United States with 100% reserve backing requirements.”

DailyCoin similarly framed the strategy as Western Union issuing its own stablecoin rather than using existing market leaders, and it described USDPT as “expected to serve as an alternative to the SWIFT network” and as a backend settlement tool rather than a direct consumer product.

Across the reporting, the competitive signal is that a legacy remittance operator is moving into stablecoin issuance and settlement infrastructure, while the specific partners, corridors, and card network details remain undisclosed in multiple accounts.