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Western Union has partnered with <a href="https://xpertsstudio.com/grayscale-withdraws-cardano-polkadot-and-hedera-etf-filings-blockchain-cardano/” title=”Grayscale Withdraws Cardano, Polkadot and Hedera ETF Filings | Blockchain cardano”>blockchain infrastructure firm Crossmint to support the rollout of its USDPT stablecoin and Digital Asset Network on the Solana blockchain. The collaboration, announced Wednesday, will connect Crossmint’s wallet and payment APIs to Western Union’s existing payout infrastructure.
The USDPT token will be issued on Solana, with Crossmint’s platform enabling fintech companies and developers to access it through existing wallet and payment integrations. Western Union’s Digital Asset Network is designed to let users convert digital dollars into local currency through the company’s network of more than 360,000 cash pickup locations across more than 200 countries and territories.
Western Union first disclosed plans for the USDPT stablecoin in October 2025, targeting a launch in the first half of 2026. The company’s network supports payments across more than 130 currencies through a combination of retail locations, bank accounts, and digital wallets.
Crossmint said its platform serves more than 40,000 clients and provides services including smart wallets, on- and off-ramps, and cross-chain stablecoin management. The company’s infrastructure is intended to reduce the technical barriers for platforms looking to integrate stablecoin-based transfers.
The partnership targets the global remittance market, where traditional payment rails can take days to settle and typically charge fees of several percentage points. According to World Bank estimates, global remittances totaled approximately $905 billion in 2024, while the average cost of sending $200 internationally remained around 6%.
Stablecoins are increasingly being explored as a lower-cost settlement alternative, offering near-instant transfers and reduced fees compared to traditional methods. Chainalysis data from October 2025 showed that in Latin America, stablecoins account for more than half of cryptopurchases made in Argentine pesos, Brazilian reals, and Colombian pesos on major exchanges, a trend the firm attributed to demand for dollar-pegged assets in inflation-prone economies.
Former UN under-secretary-general Vera Songwe said at a World Economic Forum panel in January that stablecoins are also gaining traction across Africa as an alternative for remittances, adding that remittance flows have grown more significant for the continent than foreign aid.
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Source: coinmarketcap.com