Western Union Pushes Into Crypto with Solana-Powered Stablecoin, $BEST Benefits

Remittance giant Western Union (WU) announced plans to launch its own U.S.-dollar-backed stablecoin – the U.S. Dollar Payment Token ($USDPT) – built on the Solana ($SOL) blockchain and issued by federally chartered crypto bank Anchorage Digital Bank.

Western Union serves over 100M customers globally, across more than 200 countries and territories, both digitally and in physical locations. By issuing its own stablecoin, WU aims to transform its traditional model by integrating one of the fastest-growing sectors of the cryptocurrency market.

The Sudden Success of Stablecoins

Stablecoins are, blockchain-speaking, fairly simple; you simply create a digital token matched 1:1 with an asset. Typically, that asset is a ‘real-world’ fiat currency.

And it’s that very simplicity and stability that have resulted in the sector’s astonishing growth in 2025. Some key stats:

• Stablecoins now amount to 30% of the total crypto transaction volume
• Stablecoin transaction volume rose 83% from July 2024 to July 2025
• Stablecoin market share rose 52% in the same time period
• 90%+ of fiat-backed stablecoins are USD-pegged

Stablecoins offer near-instant settlement and dramatically lower fees compared with traditional correspondent-bank rails. For a major financial institution like Western Union, that translates to increased profits and better business opportunities.

By issuing its own $USDPT rather than using a third-party stablecoin, Western Union gains control of the reserves used to back those tokens – often US treasuries. That means WU can capture interest, manage redemption, and embed the stablecoin across its network, potentially generating further revenue.

Stablecoins, Solana Set Up for Long-Term Growth

The recent U.S. passage of the GENIUS Act provides a more defined regulatory pathway for stablecoin issuance, easing institutional entry. At the same time, Solana received a recent boost with the long-awaited approval of $SOL ETFs.

For Solana, the WU deal and new ETFs validate its payment-rail credentials.

As the stablecoin ecosystem expands and blockchains like Solana increase adoption through ETFs, the stage is set for retail adoption to grow in tandem. But that requires native Web3 infrastructure that’s crypto-ready, and apps like Best Wallet – a leading, non-custodial Web3 solution for stablecoins and presale tokens alike.

Best Wallet Token ($BEST) – Non-Custodial Web3 Wallet for Stablecoins and Crypto Presales

Best Wallet Token ($BEST) powers the Best Wallet ecosystem. This mobile-first, non-custodial crypto wallet supports over 60 blockchains and features multi-chain asset management, swaps, and built-in access to a presale launchpad.

Holding $BEST grants several perks:

• Reduced transaction/gas fees within the wallet
• Increased staking rewards
• Early access to token presales
• Governance rights

The project extends beyond Best Wallet and the $BEST token; the upcoming Best Card offers a more convenient way to spend your crypto, with an impressive 8% cashback.

The presale has raised over $16.7M to date, with major whale buys adding fuel to the project, like this recent $33K purchase.

Western Union’s $USDPT could change the game for remittances and the adoption of stablecoins. For consumers, this could mean lower fees, faster transfers, and more transparent settlements. For the crypto ecosystem, it marks another traditional finance player embracing tokenized money movement.

And for Best Wallet Token, it adds to the argument that crypto wallets like Best Wallet are more critical than ever before.

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