Western Union has partnered with Crossmint to support the launch of its USDPT stablecoin on the Solana network. The collaboration aims to connect blockchain based payments with Western Union’s established global payout infrastructure.
Under the agreement, Crossmint will integrate its wallet and payment APIs into Western Union’s systems, enabling fintech platforms to transact using USDPT and access the company’s Digital Asset Network. The network is designed to bridge stablecoins with traditional payout channels, allowing users to convert digital dollars into local currencies through more than 360,000 cash pickup locations worldwide.
USDPT is scheduled to launch in the first half of 2026. By issuing the token on Solana, Western Union is positioning the stablecoin on a high-speed blockchain known for low transaction costs and fast settlement times.
Stablecoins Reshape Cross-Border Remittances
Global remittance flows reached approximately $905 billion in 2024, according to World Bank estimates. However, the average fee for sending $200 internationally remains near 6%, highlighting persistent inefficiencies in traditional transfer systems.
Stablecoins are increasingly viewed as an alternative settlement layer. A recent report by Chainalysis found that in parts of Latin America, stablecoins account for more than half of crypto purchases made with local currencies, reflecting strong demand for dollar pegged assets in inflation-prone economies.
By combining blockchain settlement with its established payout network, Western Union is seeking to modernize remittances while maintaining its global reach across more than 200 countries and territories.
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