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Western Union Reveals the Real Business Behind Its USDPT Stablecoin
Western Union has a costly problem. Billions of dollars can move through its global payment network, but some of its capital must sit idle in bank accounts, waiting for customers to send money. The 175-year-old remittance giant believes stablecoins could change that.
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Western Union holds a portion of its capital in prefunded accounts across international banking networks, where the money sits idle. Malcolm Clark, the company's head of digital assets, told BeInCrypto that real-time stablecoin settlement could free those funds and reduce operating costs. The USDPT token launched in May 2026, following an October 2025 announcement. Anchorage Digital Bank issues the token on Solana, and it may let the firm move money at all hours. Alongside Rain and Visa, Western Union is building payment services that let customers turn crypto into cash at its stores, a cash-out option Clark said spans 160 markets. It also plans to take in other cryptocurrencies and exchange them for USDPT.
Why it matters: It shows a large payments company testing stablecoins to lower the cost of moving money, which matters to readers following mainstream crypto adoption.
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Terms in this story
- Stablecoin
- A token designed to track a reference value, usually the US dollar, through reserves, crypto collateral or an algorithm.
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