The financial services company Western Union announced that it would adopt the Solana block chain for its forthcoming stabilization currency settlement system. It was revealed at the company ' s third-quarter financial teleconference that the stable currency system included the United States dollar payment token (USDPT) and the digital asset network, which would be constructed in cooperation with the Angelage Digital Bank.
It is expected that the USDPT will be launched in the first half of 2026 and that access will be extended to clients through the Partnership Exchange, similar to the way PayPal USD PYUSD is listed on exchanges such as Binance. In addition, the digital asset network will become a platform for the export of cash from over 150 million clients (over 200 countries and territories).
At the Money 20/20 USA conference in Las Vegas, Western Union CEO Devin McGanahan stated that his team, comparing a variety of other options, believed that Solana was the “right choice” for an institutional-level stabilization platform. “We have been connecting people for the past 175 years, moving $150 billion a year. Digital currency assets are the next stage of development.”
As traditional payment platforms increasingly explore the use of block chains for cross-border remittances, supporters argue that such technologies are faster, cheaper and more transparent than traditional payment methods. For example, last Friday, Zelle's parent company indicated plans to introduce a stabilization currency to accelerate cross-border payments, while Moneygram announced in mid-September that it would consolidate its encrypted currency applications in Colombia to provide the local population with USDC wallets.
The increase in the spread of the stabilization currency coincided with the improvement in United States regulatory clarity, thanks to President Trump's signing of the GENIUS Act in July. McGranahan mentioned that Western Union had initially been cautious about encrypted currency because of market fluctuations, regulatory uncertainty and customer protection issues, but that the adoption of the GENIUS Act had changed the situation.