Western Union Prepares to Launch USDPT Stablecoin in May

• Western Union is preparing to launch its stablecoin USDPT in May.
• USDPT will initially function as a settlement alternative to SWIFT.
• Western Union also plans to launch its Digital Asset Network this week with its first partner.

Western Union is preparing to launch its stablecoin USDPT in May 2026, according to CEO and President Devin McGranahan.

McGranahan confirmed the timeline during the company’s first-quarter earnings call on April 24, 2026. USDPT is a US dollar-backed token built on the Solana blockchain and issued by Anchorage Digital Bank.

McGranahan described the launch as part of its digital asset strategy that also includes a digital asset network and a USD stable card. “It is no longer a question of if Western Union will be active in digital assets,” he said. “It is now how fast we can scale.”

Western Union’s Stablecoin Will Launch as an Agent Settlement Tool

USDPT will not launch as a consumer-facing product. Its initial role is to serve as an alternative to the SWIFT network that Western Union currently uses to settle transactions with its agents.

The first deployment will cover select countries with key agent partners that enable on-chain settlement that can continue processing through traditional banking holidays.

McGranahan called the stablecoin as the foundation of the company’s digital asset push. “At the foundation of our strategy is USDPT, our US dollar-backed stablecoin.

USDPT is now in its final stages of readiness and is expected to go live next month,” he stated during the earnings call.

Digital Asset Network Adds First Partner

Alongside the stablecoin launch, Western Union is moving forward with its Digital Asset Network, referred to internally as DAN.

The network is designed to allow stablecoins and other cryptocurrencies to move across Western Union’s global payment infrastructure and connect to real-world cash access points.

McGranahan confirmed during the earnings call that DAN would add its first partner during the week of April 24.

The company’s partner pipeline covers tens of millions of crypto wallets globally. McGranahan described this as a distribution channel that brings digital asset holders directly into Western Union’s retail and digital network.

Western Union also plans to roll out a USD Stable Card later in 2026 across dozens of markets.

Western Union’s Stablecoin Enters a Market Valued at $320 Billion

The stablecoin market Western Union is entering currently holds a total market capitalization of approximately $320 billion.

Tether’s USDT leads the category with a market cap exceeding $189.7 billion, followed by Circle’s USDC at $77.7 billion and Sky Dollar at $8.2 billion, according to DefiLlama.

Western Union first announced USDPT in October 2025, confirming its Solana blockchain basis and Anchorage Digital Bank as the issuing entity.

The move places Western Union among a growing number of traditional financial institutions incorporating stablecoins into their payment infrastructure.

McGranahan’s comments on the earnings call pointed to scaling pace as the primary variable going forward, with the infrastructure framework now in place. The May launch will cover only select countries initially.