American payment giant tests stablecoin settlement! Western Union announces the launch of USDPT next year, while Visa supports existing stablecoins

American traditional payment giants are fully embracing stablecoin settlement systems. Western Union announced that it will launch the USD payment token USDPT based on the Solana blockchain in the first half of 2026, while Visa announced that it will add support for four stablecoins across four blockchains and allow banks to directly mint and burn stablecoins.

According to media reports, Western Union CEO Devin McGranahan stated at the Money 20/20 USA conference held in Las Vegas this Tuesday that after comparing multiple options, the team believes Solana is the "right choice" for building an institutional-grade stablecoin platform. The company will collaborate with Anchorage Digital Bank to build a digital asset network, providing cryptocurrency withdrawal services for its over 150 million customers across more than 200 countries and regions.

Visa CEO Ryan McInerney revealed during the fiscal year performance conference call on Tuesday that the newly added stablecoin support covers two currencies, which can be exchanged for over 25 traditional fiat currencies. He noted that Visa's global consumer spending on stablecoin-related spending card services quadrupled year-on-year in the fourth fiscal quarter, with monthly transaction volume exceeding an annualized scale of $2.5 billion.

These initiatives come at a time when the regulatory framework for stablecoins in the United States is becoming clearer. After Trump signed the GENIUS Act in July this year, the U.S. Treasury estimated that the stablecoin market size reached $311.5 billion, expected to reach $2 trillion by 2028.

Western Union Chooses Solana to Build Stablecoin Infrastructure

Western Union announced during its third-quarter earnings call last week that its upcoming stablecoin settlement system will consist of the USD payment token USDPT and a digital asset network. The company confirmed on Tuesday that the entire system will be built on the Solana blockchain.

McGranahan stated that Western Union had previously taken a cautious stance on cryptocurrencies due to concerns about market volatility, regulatory uncertainty, and customer protection, but the passage of the GENIUS Act changed this direction. The company expects USDPT to go live in the first half of 2026, with customers able to access it through partner exchanges, similar to the listing model of PayPal's USD stablecoin on exchanges like Binance.

The digital asset network will provide fiat withdrawal channels for Western Union's customer base. This development comes just over three months after the company first revealed its stablecoin integration plans in July this year.

Visa Accelerates Stablecoin Banking Services

Visa is significantly expanding its stablecoin support. McInerney revealed that the company will add support for four stablecoins across four different blockchains, but did not disclose specific details. Currently, Visa supports Circle's USDC and Euro Coin, PayPal USD, and Global Dollar, covering blockchain networks such as Ethereum, Solana, Stellar, and Avalanche.

McInerney pointed out that Visa has seen particularly strong growth momentum in the stablecoin sector, facilitating $140 billion in cryptocurrency and stablecoin flows since 2020 The company's monthly trading volume related to stablecoins has now surpassed an annualized scale of $2.5 billion.

Visa's next focus will be to expand stablecoin services aimed at banks and traditional financial institutions, and to facilitate more cross-border transactions. The company launched the Visa Direct pilot program last September, allowing banks and financial institutions to use USDC and EURC for pre-funded cross-border payments. McInerney stated that the company will continue to enhance its solution layer, enabling banks to mint and burn stablecoins themselves through the Visa tokenized asset platform.

Traditional Payment Platforms Shift to Blockchain

In addition to Western Union and Visa, several U.S. payment platforms are advancing stablecoin strategies. Last Friday, the parent company of the payment platform Zelle announced it would launch a stablecoin to accelerate cross-border payments. MoneyGram announced in mid-September that it would integrate its crypto application in Colombia to provide local users with USDC wallets.

Traditional payment platforms are increasingly viewing blockchain technology as a solution for cross-border remittances. Proponents argue that blockchain technology is faster, cheaper, and more transparent compared to traditional payment rails.

Additionally, Walmart's fintech company OnePay plans to add Bitcoin and Ethereum trading features to its platform as early as this year through a partnership with crypto company Zerohash. OnePay was founded four years ago by Walmart and venture capital firm Ribbit Capital and has now become the fifth-ranked free finance app in the Apple App Store, alongside fintech giants like PayPal, Venmo, and Cash App