Western Union is getting serious—planning to launch the USDPT stablecoin by the end of the year, based on the Solana blockchain, aiming to reach over 100 million users.

The core logic is clear: instead of following the "neutral infrastructure" approach of Visa/Stripe, Western Union is choosing to go solo—issuing the coin, custody, and cash-out are all controlled in-house, connecting with 600,000 agent locations worldwide, offering instant settlement and fees of just a few cents.

Compared to the current situation: transferring USDC on Solana is already cheaper than Western Union, but only crypto users are doing it. Western Union is betting on embedding blockchain into traditional remittance products so that the average person doesn’t even notice the technology—only the results.

The challenges are significant: international regulations are fragmented, user education is tough, and competitors are also moving (MoneyGram tried Stellar). Whether they can transform from a 100-year-old traditional finance player into a Web3 infrastructure provider will really depend on execution.