Western Union to Launch USDPT Stablecoin in May

• USDPT stablecoin will support internal settlements, offering faster transfers beyond traditional SWIFT systems.
• Western Union expands infrastructure with Digital Asset Network, linking crypto wallets to global cash access points.
• Upcoming Stable Card targets consumers, enabling stablecoin spending and access to dollar-based value worldwide.

Western Union will launch its Solana-based stablecoin USDPT next month, according to CEO Devin McGranahan, who confirmed the update during the April 24 earnings call. The token will support agent settlements instead of consumer payments. The move comes as the company builds new infrastructure to improve cross-border transfers and integrate digital assets into its global network.

USDPT Designed for Settlement Use

According to Devin McGranahan, USDPT will act as an alternative to SWIFT for internal settlements. The company plans to deploy the stablecoin in select countries with key partners. This approach allows transactions to process continuously, including weekends and bank holidays.

USDPT is backed by the U.S. dollar and runs on the Solana network. However, it will not launch as a retail-facing product. Instead, Western Union will use it for treasury flows between agents.

Digital Asset Network Expands Access

Alongside USDPT, Western Union is introducing the Digital Asset Network. This system connects crypto wallets to its retail and agent infrastructure. The first partner is expected to go live this week.

McGranahan said the network will allow users to convert digital assets into local currency through Western Union locations. This setup uses existing infrastructure to bridge blockchain systems with real-world cash access.

Stable Card Targets Consumer Use

Western Union also plans to launch a USD Stable Card later this year. The card will allow users to hold stablecoin balances and spend globally. It will roll out across dozens of markets.

McGranahan noted that the product targets regions with inflation concerns. It offers access to dollar-denominated value with direct usability. This consumer layer builds on the backend systems created by USDPT and the Digital Asset Network.

The company reported adjusted revenue of $983 million for the quarter, down 1% year over year. Its stock closed at $8.90, declining 4.6% on Friday.

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