Historic payment network Western Union says it plans to launch its own stablecoin on the Solana Network in 2026. The new dollar-backed stablecoin would let its 100 million customers send money internationally, detached from local fiat currency fluctuations and risks.

Per Western Union’s Tuesday announcement, the U.S. Dollar Payment Token, or USDPT, will be built on the Solana blockchain and issued by Anchorage Digital Bank. The digital token is expected to launch in the first half of 2026, and customers will be able to access it through Western Union’s partner exchanges. The Solana layer-1 blockchain network is home to plenty of successful stablecoins, and Western Union’s coin would arguably be one of the most important ones out there.

“We are a long way from the telegraph, but the idea of connecting people and using technology to do it is deeply in our roots for 175 years,” said Devin McGranahan, president and chief executive of Western Union. “Moving into digital assets and stablecoins is just the next chapter in that long journey of connecting people through technology.”

Also Read: Citibank, Coinbase Partner to Improve Stablecoin Utility, Crypto Adoption

Stablecoins have dominated the finance sector in 2025. Several top financial institutions have backed the industry and are launching their own dollar-backed coins, including Bank of America and JPMorgan. Western Union is one of the world’s oldest payment networks, building the first transcontinental telegraph line in 1861. The company’s dive into the stablecoin industry would usher Western Union into yet another financial revolution, keeping it relevant in a growing industry.

The stablecoin market already has a market cap of more than $300 billion. Western Union transfers hundreds of billions annually. Thus, should the Western Union USDPT stablecoin gain traction, it could send a huge influx into the current stablecoin market.