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Western Union, one of the world’s largest cross-border money transfer companies, said during its first-quarter 2026 earnings call on April 24 that its Solana-based stablecoin is in the final stages of preparation and is expected to launch next month.
CEO and President Devin McGranahan said the stablecoin, USDPT (the company’s USD Payment Token), will initially target agent settlement rather than consumer wallets. He described USDPT 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.
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 involving Anchorage and Solana.
Alongside the stablecoin, Western Union is activating its Digital Asset Network (DAN), intended to connect crypto wallets to Western Union’s global retail and agent infrastructure through a single API. McGranahan said the first DAN partner is expected to go live this week.
Western Union also outlined plans for a USD Stable Card, expected to roll out across dozens of markets later this year. The card would allow consumers to hold value in stablecoins and spend anywhere card acceptance exists.
McGranahan described the product as “particularly compelling in inflation-sensitive markets where customers want dollar-denominated value with immediate practical utility,” citing countries in Latin America where local currency depreciation can erode the value of incoming remittances.
The company did not disclose which specific markets will launch first, or which card network partner will be involved.
Western Union reported GAAP revenue of $983 million for the first quarter, down 1% year-over-year. The company attributed the decline 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 were $0.20, below the $0.39 consensus estimate. After the earnings release, WU shares fell 4.6% to $8.90.
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