Western Union Issues USDPT Stablecoin on Solana

Western Union has launched USDPT, a U.S. dollar‑pegged stablecoin, on the Solana blockchain. Anchorage will act as the issuer and handle token minting and redemption controls for the arrangement.

The company described USDPT as a dollar-denominated digital token built on Solana, a proof-of-stake network that supports fast transaction speeds and low fees. The token uses Solana’s token standards and is compatible with wallets and services that support the network.

Anchorage, a regulated digital asset firm, will maintain controls over token creation and redemption. Anchorage provides custody, staking and other crypto infrastructure services and will operate issuance on behalf of the arrangement.

Western Union positioned USDPT for use cases that combine dollar value with programmable digital transfer, including on-chain trading, remittances and cross-border transfers. The announcement did not specify how customers will access the token or which exchanges and platforms will list it.

Stablecoins are typically backed by reserves of fiat currency, cash equivalents or other assets intended to maintain a one-to-one peg with the U.S. dollar. The companies did not disclose detailed reserve information or attestations for USDPT in the announcement.

Details on regulatory approvals, redemption mechanisms and operational controls for USDPT were not included in the initial statement. The launch occurs amid broader activity by payments firms and banks experimenting with tokenized dollars and blockchain settlement rails.