Solana News Today: Western Union Bridges Old and New Finance with Solana Stablecoin

Western Union, a 173-year-old money transfer giant, is set to launch its U.S. Dollar Payment Token (USDPT) stablecoin on the Solana blockchain in the first half of 2026, marking a strategic pivot into digital assets, a CoinDesk report. The stablecoin, issued by federally regulated Anchorage Digital Bank, will leverage Solana's high throughput and low-cost infrastructure to facilitate fast, scalable cross-border payments, as Crypto.news reported. CEO Devin McGranahan emphasized the initiative would allow the company to "own the economics linked to stablecoins," a move he tied to recent U.S. regulatory developments like the GENIUS Act, a Yahoo Finance report.

The USDPT will be integrated into Western Union's existing payment network, enabling users to send, receive, and hold the token through partner exchanges, a CryptoTimes report. A complementary Digital Asset Network aims to solve the "last mile" problem in crypto transactions by partnering with wallet providers and leveraging Western Union's 350,000+ global agent locations to convert USDPT into fiat currency, as Crypto.news reported. This infrastructure is designed to reduce transaction costs by up to 50% and cut settlement times to minutes, according to a Coinotag report.

The stablecoin sector, valued at $300 billion, has seen rapid growth, with monthly transfer volumes surging 35.68% year-to-date, Yahoo Finance noted. Western Union's entry follows a broader trend of traditional finance firms adopting blockchain, including competitors like PayPal and MoneyGram, per CoinDesk. The company's decision to use Solana—a blockchain capable of processing 65,000 transactions per second at under $0.01 per transaction—reflects its focus on scalability and efficiency, Crypto.news added.

Regulatory alignment is central to the initiative. Anchorage Digital's role in issuance and custody ensures compliance with federal standards, while Western Union's risk management frameworks will govern the stablecoin's operations, CoinDesk reported. The rollout coincides with the first U.S. spot Solana ETP (Exchange-Traded Product) launch on the NYSE, signaling growing institutional confidence in the asset class, Yahoo Finance noted.

Analysts project the stablecoin market could reach $750 billion by 2026 as adoption accelerates, CryptoTimes reported. Western Union's foray into this space comes amid a 6% revenue decline in its first quarter, prompting a strategic push to diversify into digital assets, Yahoo Finance observed. The company's Digital Asset Network and USDPT aim to expand financial inclusion, particularly in emerging markets, by offering affordable remittance solutions, Coinotag reported.