In order to promote its future USDPT stablecoin on the Solana blockchain, global remittance behemoth Western Union has teamed up with financial infrastructure provider Crossmint.
Through the cooperation, Western Union’s financial infrastructure will be integrated with Crossmint’s wallet and payment technology. This will enable Western Union’s worldwide payment network to be used by fintech platforms to send and receive money using the stablecoin.
Through more than 360,000 cash pickup sites across the globe, customers will be able to convert stablecoins into local money via the company’s new Digital Asset Network.
The USDPT stablecoin project was initially revealed by Western Union in October 2025, and it is scheduled to launch in the first half of 2026.
Because stablecoins enable speedy cross-border money transfers with reduced transaction costs, they are being investigated more for use in international payments.
Conventional remittance providers frequently have high costs and can take days to pay. Global remittances totalled $905 billion in 2024, with the average cost of sending $200 abroad being about 6%, according to the World Bank.
Western Union intends to provide quicker and more economical cross-border transactions by utilizing blockchain networks like Solana.
The action is indicative of traditional financial firms’ increasing interest in employing stablecoins as a cutting-edge payment system.
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