Solana Takes Aim at XRP Amid Western Union Stablecoin Partnership

• Western Union will launch USDPT stablecoin on Solana, issued by Anchorage Digital Bank.
• The New Digital Asset Network aims to link digital funds with global access to real-world cash.

Western Union plans to launch a dollar-backed stablecoin named US Dollar Payment Token (USDPT) for its global payments network, which serves about 100 million users.

The token will be issued by Anchorage Digital Bank and built on the Solana blockchain. The launch is expected in the first half of 2026. 

Western Union CEO Devin McGranahan stated, 

The company has built a long record in cross-border transfers with a large presence among retail senders and receivers. The planned token will function across a digital settlement framework called the Digital Asset Network, created together with Anchorage Digital Bank.

Solana was selected for its low transaction costs and fast confirmation times, which Western Union believes can strengthen its transfer network for users across many regions.

McGranahan added,  

Western Union’s Earlier Trial With XRP

Western Union’s history with blockchain-based transfers dates back to 2015, when the firm conducted trials using Ripple’s network and its XRP token. In 2018, another test was carried out through Ripple’s xRapid product, which used XRP for settlement channels.

These early experiments did not deliver the expected operational adjustments. At that time, former CEO Hikmet Ersek said the approach was “still too expensive.”

A company spokesperson made clear in 2023 that the Ripple trial “concluded a number of years ago” and did not continue. This placed Western Union outside the group of firms extending collaboration with Ripple’s system in later years.

McGranahan remarked,

U.S. Clarity Boosts Stablecoin Payment Adoption

The global stablecoin market has reached around $312 billion. The bank Standard Chartered predicts that this value could reach $750 billion by the end of 2026. Companies handling remittances, online commerce payments, and app-based transfers are increasing their interest in tokens backed by U.S. dollar reserves.

MoneyGram already uses USDC on Stellar along with Crossmint support, while PayPal’s stablecoin issued through Paxos has reached about $2.7 billion in supply since 2023. Stripe is also developing its own chain focused on supporting payments.

Recent regulatory clarity in the United States under the GENIUS Act has helped firms explore stablecoin-based settlement systems in a more structured environment, improving adoption among companies.

At present, Solana’s native token (SOL) is priced at $194.24, down 4.5%  over the past day.. Short-term chart signals show weaker buying pressure, with the Relative Strength Index sitting near 43, reflecting cooling momentum.

If SOL breaks below $193, chart levels point to possible downside support around $183. On the upside, resistance is seen between $204 and $208, with a stronger ceiling near the $218 zone.