Western Union to Launch USDPT Stablecoin on Solana Next Month, Stable Card Planned for Consumers in Dozens of Markets

Western Union CEO Devin McGranahan confirmed the May launch of the company’s Solana-based USDPT stablecoin on its Q1 earnings call, alongside plans for a USD Stable Card in dozens of markets later this year.

Western Union, one of the world’s largest cross-border money transfer companies, announced during its first-quarter 2026 earnings call on April 24 that its Solana‐based stablecoin is in the final stages of preparation and will launch next month. CEO and President Devin McGranahan confirmed that USDPT, the company’s USD Payment Token, will initially target agent settlement rather than consumer wallets, serving as a faster and cheaper alternative to correspondent banking for transfers between Western Union and its global agent network.

“It is no longer a question of if Western Union will be active in digital assets; it is now how fast we can scale,” McGranahan told analysts.

This story is an excerpt from the Unchained Daily newsletter.

USDPT will be issued by Anchorage Digital Bank, a federally chartered crypto custodian. Western Union first revealed the project in October 2025 through a partnership announcement with Anchorage and Solana. Alongside the stablecoin, the company is activating its Digital Asset Network (DAN), which will connect crypto wallets to Western Union’s global retail and agent infrastructure through a single API. The first DAN partner is expected to go live this week, according to McGranahan.

A USD Stable Card is planned to roll out across dozens of markets later this year. The card will allow consumers to hold value in stablecoins and spend anywhere card acceptance exists. McGranahan called the product “particularly compelling in inflation-sensitive markets where customers want dollar-denominated value with immediate practical utility,” pointing to countries in Latin America where local currency depreciation erodes the value of incoming remittances.

Western Union has not disclosed which specific markets the card will launch in first, nor its card network partner.

Western Union reported GAAP revenue of $983 million for the first quarter, down 1% year-over-year. The company attributed the drag to its Americas retail business, where transactions fell amid U.S. immigration policy headwinds affecting key corridors including the U.S. to Mexico, Ecuador, and Guatemala. GAAP earnings per share came in at $0.20, below the $0.39 consensus estimate. WU shares fell 4.6% to $8.90 after the earnings print.