Western Union to Launch USDPT Stablecoin on Solana with Crossmint Partnership
Western Union plans to launch the U.S. Dollar Payment Token (USDPT) on the Solana blockchain, positioning it against Ripple Labs' RLUSD, Solana Daily reported on X on March 5, 2026. The global payment company is partnering with Crossmint to provide digital wallets, payment integration APIs for businesses, and backend infrastructure for token issuance and redemption across Western Union's network in more than 200 countries. USDPT will be redeemable at 360,000 cash locations worldwide, linking digital assets with physical cash access. The initiative follows an initial announcement in October 2025, and market observers note USDPT could intensify competition in the stablecoin sector if users favor Solana's speed and low transaction fees over existing offerings including RLUSD, USDT, USDC and PayPal's stablecoin.