Crossmint has partnered with Western Union to support the launch of USDPT stablecoin remittance company and its new Digital Asset Network on the Solana blockchain.
The partnership will integrate Crossmint’s wallet and payment APIs with Western Union’s infrastructure, enabling fintech platforms to transfer funds using the stablecoin and connect to Western Union’s global payment network, according to Wednesday’s announcement.
This Digital Asset Network is designed to connect stablecoins with the company’s existing payment infrastructure, allowing users to convert digital dollars into local currency through a network of more than 360,000 cash transfer locations worldwide.
According to the announcement, the USDPT stablecoin will be released on the Solana (SOL) blockchain. Crossmint said its infrastructure allows developers and fintech companies to use its platform to access existing wallet and payment integrations.
Crossmint said its platform is used by more than 40,000 customers and includes services such as smart, embedded and external wallets and stablecoin cross-chain management.
Western Union, known for completing the first transcontinental telegraph line in 1861, today operates a global money transfer network in more than 200 countries and territories and supports payments in more than 130 currencies through a network of stores, bank accounts and digital wallets.
The company first announced plans for the stablecoin USDPT in October 2025 and said the Solana-based token would launch in the first half of 2026.
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Stablecoins are earned in cross-border money transfers
Western Union’s core business is money transfers, allowing people to send money across borders to family members and recipients in their home countries. Through traditional payment rails, these transfers can take several days, often incur fees of several percent, and are usually not processed on weekends or holidays.
According to World Bank estimates, global remittances will reach $905 billion in 2024, while the average cost of transferring $200 internationally remains at around 6% of the transaction amount.
Stablecoins are increasingly being explored as an alternative way of settlement because they allow the dollar value to move across blockchain networks with instant settlements and lower transaction costs.
According to a report by Chainalysis, in Latin America, stablecoins account for more than half of crypto purchases with Argentine peso, Brazilian real and Colombian peso on major exchanges, the company’s October 2025 report attributed this trend to demand for dollar-linked assets in economies facing inflation and currency volatility.
According to Chainalysis, other countries seeing strong crypto adoption include Nigeria and Turkey, as well as Asian markets such as the Philippines and Vietnam, which are among the top countries in the world in terms of mass crypto usage.
At the World Economic Forum meeting on January 23 in Davos, former United Nations Under-Secretary-General Vera Songwe said that stablecoins are gaining traction across Africa as an alternative to remittances, noting that remittances have become more important to the continent than foreign aid.
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