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- Western Union aims to leverage Solana’s low fees and high throughput to improve settlement times, transparency, and compliance.
- Bitwise and Grayscale recently launched Solana ETFs, highlighting growing institutional and fintech interest in the SOL ecosystem.
Remittance payments giant Western Union announced its partnership with Solana to launch its USDPT stablecoin on the platform. The goal here is to allow its global customers to move money with lower fees and faster settlement times.
Western Union Introduces US Dollar Payment Token (USDPT) Stablecoin on Solana
Western Union announced that its upcoming US Dollar Payment Token (USDPT) will be issued by Anchorage Digital Bank, with the launch planned for the first half of 2026, as reported by CNF. According to the company, users will be able to access the token through partner exchanges.
Besides, they can also transfer value globally without facing local currency fluctuations or traditional banking delays.
Western Union executives described the initiative as a return to the company’s roots of connecting people through technology, now using modern digital rails.
President and CEO Devin McGranahan said the firm’s move into digital assets marks the next phase in its 175-year mission to make money transfers faster and more reliable. “Western Union’s USDPT will allow us to own the economics linked to stablecoins,” he wrote.
Built on Solana, the project leverages the network’s high throughput and low fees, which are the key advantages in the competitive remittance markets where small costs matter. By settling transactions on a public blockchain, Western Union aims to reduce transfer times, enhance transparency for compliance, and streamline reconciliation. Executives added that successful adoption could help accelerate stablecoin use in mainstream payment systems.
Competition is intensifying among several remittance market players. PayPal introduced its own dollar-backed stablecoin with Paxos in 2023 and integrated it into its remittance app, while MoneyGram rolled out a wallet that allows users to receive and hold USDC.
At the same time, several bank-led networks are piloting stablecoin-based international transfers aimed at shortening settlement times and reducing reliance on correspondent banking systems.
SOL ETFs Grab Limelight With Recent Launch by Grayscale and Bitwise
Bitwise Asset Management made a strong Wall Street debut with its new Bitwise Solana ETF (BSOL), recording $69.5 million in first-day inflows, as reported by CNF.
The fund provides direct exposure to Solana (SOL) and includes on-chain staking through Helius, targeting around 7% annual yields. With a 0.20% management fee, BSOL ranks among the most cost-efficient crypto investment products available.
Grayscale has announced the launch of the Grayscale Solana Trust ETF (ticker: GSOL), giving investors direct exposure to Solana (SOL). According to the company, GSOL offers convenient access to Solana with the added benefit of staking rewards.
The fund also provides exposure to Solana’s high-speed, low-cost blockchain, which is capable of processing thousands of transactions per second at scale.
