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Crossmint has partnered with Western Union to support the launch of the remittance company’s USDPT stablecoin and its new Digital Asset Network on the Solana blockchain.
Wednesday’s announcement said the collaboration will integrate Crossmint’s wallet and payment APIs with Western Union’s infrastructure, allowing fintech platforms to move funds using the stablecoin and connect to Western Union’s global payout network.
That Digital Asset Network is intended to link stablecoins with the company’s existing payout infrastructure, enabling users to convert digital dollars into local currency through its network of more than 360,000 cash pickup locations worldwide.
The USDPT stablecoin will be issued on the Solana (SOL) blockchain, according to the announcement. Crossmint said its infrastructure will allow developers and fintech companies using its platform to access the token through existing wallet and payment integrations.
Crossmint said its platform is used by more than 40,000 clients and includes services such as smart wallets, on- and offramps, and cross-chain stablecoin management.
Western Union, which is known for completing the first transcontinental telegraph line in 1861, today operates a global money transfer network spanning more than 200 countries and territories and supports payments across more than 130 currencies through a network of retail locations, bank accounts and digital wallets.
The company first announced plans for the USDPT stablecoin in October 2025, saying the Solana-based token would launch in the first half of 2026.
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Stablecoins gain in cross-border remittances
Western Union’s core business is remittances, enabling people to send money across borders to family members and recipients in their home countries. Through traditional payment rails, these transfers can take days to settle, often carry fees of several percentage points and typically do not process on weekends or holidays.
According to World Bank estimates, global remittances totaled about $905 billion in 2024, while the average cost of sending $200 internationally remained around 6% of the transaction amount.
Stablecoins are increasingly being explored as an alternative settlement rail because they allow dollar-denominated value to move across blockchain networks with near-instant settlement and lower transaction costs.
According to Chainalysis, in Latin America, stablecoins account for more than half of crypto purchases made with the Argentine peso, Brazilian real and Colombian peso on major exchanges, The company’s October 2025 report attributed the trend to demand for dollar-pegged assets in economies facing inflation and currency volatility.
Other countries seeing strong crypto adoption include Nigeria and Turkey, as well as Asian markets such as the Philippines and Vietnam, which rank among the world’s top countries for grassroots crypto usage, according to Chainalysis.
At a World Economic Forum panel in Davos on Jan. 23, former UN under-secretary-general Vera Songwe said stablecoins are gaining traction across Africa as an alternative for remittances, noting that remittance flows have become more significant for the continent than foreign aid.
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