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 working on the Solana blockchain.
A Large Identify Makes Its Blockchain Debut
Western Union, which strikes cash for greater than 150 million clients throughout greater than 190 nations, 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 nations earlier than the top of 2026.
The infrastructure behind USDPT includes two main gamers within the crypto area. Anchorage Digital, the primary federally regulated crypto financial institution within the US, is issuing the stablecoin.
We’re joyful 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. Comply with @USDPT_ for updates. Be taught extra: pic.twitter.com/aX6WNJIEoz
— Western Union (@WesternUnion) Might 4, 2026
Fireblocks, a crypto infrastructure agency, is dealing with pockets and settlement operations. Western Union stated 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 isn’t alone on this push. MoneyGram began providing USDC stablecoin companies 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 chunk of US laws broadly seen as favorable to stablecoin improvement.
Western Union stated the launch displays a broader shift in how international funds are shifting, and that extra monetary establishments are anticipated to undertake regulated digital property as core infrastructure going ahead.
The Philippines was a pure alternative for an early rollout. Remittances make up a big a part of the nation’s economic system, and reviews notice 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 — comparable to from Argentina to Bolivia — have been largely untouched by crypto-based cost techniques, making them ripe for brand 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 full market cap at present stands at $317 billion.
Each the US Division of the Treasury and Citigroup have projected that determine may climb previous $2 trillion by 2030.
Featured picture from Unsplash, chart from TradingView
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