Western Union’s Solana-based stablecoin could reshape its payment model, analyst says

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Western Union’s Solana-based stablecoin could reshape its payment model, analyst says Western Union launched USDPT, a dollar-backed stablecoin on Solana, issued by Anchorage Digital Bank, for 24/7 settlement with agents and partners. By Francisco Rodrigues | Edited by Stephen Alpher May 5, 2026, 5:22 p.m. 2 min read Make preferred on What to know : Western Union launched USDPT, a dollar-backed stablecoin on Solana, issued by Anchorage Digital Bank, for 24/7 settlement with agents and partners. Analyst Angus Scott says USDPT shows stablecoins disrupt traditional payments, pressuring legacy remittance and bank settlement models. Solana's fast, low-fee, 24/7 operations allow USDPT to handle small consumer payments and large settlement flows, merging remittances and wholesale settlements. Western Union's new Solana-based stablecoin, USDPT, may do more than speed up money transfers. It could also weaken the old lines between remittances, consumer payments and bank settlement, according to Angus Scott, founder of the Solana Research Institute, a Solana Foundation-backed body. Western Union launched the U.S. dollar-backed stablecoin issued by Anchorage Digital Bank N.A. on Monday. The company said the token will support 24/7 settlement with agents and partners across its global payment network. The launch follows Western Union's April disclosure that USDPT would initially replace SWIFT-based interbank settlement with its agents. Scott told CoinDesk the launch is another sign that stablecoins are starting to challenge older payment models. "Western Union's adoption of Solana-based stablecoins is another point of proof that stablecoins are becoming highly disruptive to traditional payments business models," Scott said. The key point, he added, is that Solana can handle both small consumer payments and large settlement flows. Low fees make it possible to use a stablecoin for small purchases, and fast settlement, coupled with 24/7 operations, can also help firms move money between agents without waiting for correspondent banks. Scott said that could let Western Union pool idle balances and manage cash across its network in real time. Businesses that accept USDPT could do the same with customer payments. "The Western Union model appears to be breaking down the barriers between remittances, payments and wholesale settlements via correspondent banks," Scott said. "How this plays out will be one of the key themes of the next few years." Solana News Stablecoins More For You Figure targets Fannie Mae and Freddie Mac in mortgage push, citing massive cost cuts for borrowers By Francisco Rodrigues | Edited by Stephen Alpher 12 minutes ago The firm offers rapid service, targeting the sub-$300,000 loan segment, with HELOC applications approved in 5 minutes and funding in 3 days. What to know : Figure is challenging U.S. giants Fannie Mae and Freddie Mac in the first-lien mortgage market by using its blockchain platform to cut origination costs by 91%. The firm offers rapid service, with HELOC applications approved in 5 minutes and funding in 3 days, targeting the sub-$300,000 loan segment. Figure is... Read full story Latest Crypto News Figure targets Fannie Mae and Freddie Mac in mortgage push, citing massive cost cuts for borrowers 12 minutes ago Ripple CEO Brad Garlinghouse says Clarity better than chaos as Senate hits key moment 55 minutes ago Wall Street warns human-built markets can’t keep up with machine-speed trading 2 hours ago Crypto's value is from being outside regulatory apparatus, says Arthur Hayes 2 hours ago From bitcoin mining to the Hill: AIP’s new fellow brings hands-on crypto experience to D.C. 2 hours ago Jito Labs launches self-custody trading tool as activity heats up on Solana 2 hours ago Top Stories Consensus Miami Day 1: Real-time coverage and highlights from on the ground 3 hours ago Coinbase cuts 14% of staff as AI reshapes how crypto companies operate 5 hours ago Crypto.com’s high-rolling head of marketing to leave after almost six years 3 hours ago Crypto platform Bullish to buy Equiniti for $4.2 billion, building tokenized securities infrastructure 6 hours ago Bitcoin crosses $81,000, ETH, SOL, DOGE steady as options desks bid on further price jump 11 hours ago Bitcoin used to hate inflation. Now it might be the opposite 10 hours ago