Crossmint has teamed up with Western Union to support the roll-out of USDPT, a Solana-based stablecoin, and Western Union’s new Digital Asset Network. Under the agreement, Crossmint will integrate its wallet and payment APIs with Western Union’s infrastructure so fintechs can move funds using USDPT and tap Western Union’s global payout network.
The Digital Asset Network is designed to link stablecoins to Western Union’s existing payout rails, enabling users to convert digital dollars into local currency via the company’s more than 360,000 cash pickup locations worldwide. USDPT will be issued on the Solana blockchain. Crossmint says its infrastructure will let developers and fintech clients access the token through the platform’s existing wallet integrations and payment tools.
Crossmint serves more than 40,000 clients and offers services such as smart wallets, fiat on- and off-ramps, and cross-chain stablecoin management. By adding USDPT support, Crossmint aims to make it easier for partner platforms to settle with the new token and reach Western Union’s payout endpoints.
Western Union, which traces its roots to the first transcontinental telegraph line in 1861, now operates a global money transfer network across more than 200 countries and territories and supports payments in over 130 currencies via retail locations, bank accounts and digital wallets. The company first announced plans for USDPT in October 2025 and said the Solana-based token would launch in the first half of 2026.
Why stablecoins for remittances
Remittances are Western Union’s core business: moving funds across borders to families and recipients in home countries. Traditional payment rails can take days to settle, often carry multi-percent fees and may not process on weekends or holidays. According to World Bank estimates, global remittances were about $905 billion in 2024, while the average cost to send $200 internationally stayed around 6% of the transfer amount.
Stablecoins are being considered as an alternative settlement rail because they let dollar-denominated value move across blockchains with near-instant settlement and typically lower transaction costs. That can reduce both time and fees for cross-border transfers when paired with reliable on- and off-ramps.
Regional adoption and demand
Chainalysis has found that in parts of Latin America stablecoins account for more than half of crypto purchases made with local currencies on major exchanges, driven by demand for dollar-pegged assets amid inflation and currency volatility. Other markets with notable crypto adoption include Nigeria, Turkey, the Philippines and Vietnam.
At a World Economic Forum panel in Davos on Jan. 23, former UN under-secretary-general Vera Songwe observed that stablecoins are gaining traction across Africa as a remittance alternative, noting that remittance flows have become more important for some countries than foreign aid.
This report was prepared in line with editorial standards. Readers are encouraged to independently verify the information presented.