Western Union Taps Crossmint for USDPT Stablecoin Rollout on Solana

Western Union has partnered with blockchain infrastructure firm Crossmint to support the rollout of its USDPT stablecoin and Digital Asset Network on the Solana blockchain. The collaboration will connect Crossmint's wallet and payment APIs to Western Union's existing payout infrastructure, enabling fintech companies and developers to access the USDPT token through existing wallet and payment integrations.

The USDPT token is set to be issued on Solana, with the goal of converting digital dollars into local currency through Western Union's network of over 360,000 cash pickup locations across more than 200 countries and territories. The company first disclosed plans for the USDPT stablecoin in October 2025, targeting a launch in the first half of 2026.

The global remittance market is the target of this partnership, where traditional payment rails can take days to settle and charge fees of several percentage points. According to World Bank estimates, global remittances totaled approximately $905 billion in 2024, with an average cost of sending $200 internationally remaining around 6%.

The use of stablecoins as a lower-cost settlement alternative is becoming increasingly popular, offering near-instant transfers and reduced fees compared to traditional methods. Stablecoins account for more than half of crypto purchases made in Argentine pesos, Brazilian reals, and Colombian pesos on major exchanges in Latin America, due to demand for dollar-pegged assets in inflation-prone economies.