William Blair Flags Bullish Outlook on Western Union’s Solana-Backed Stablecoin Project

Western Union’s Solana Stablecoin Launch Signals Bold Push Into Blockchain Payments

29/10/2025

Western Union (WU) shares advanced 6.5% on Tuesday after the company announced plans to launch its U.S. Dollar Payment Token (USDPT) on the Solana blockchain, issued by Anchorage Digital Bank, alongside a new Digital Asset Network designed for crypto cash-outs.

According to William Blair, the move highlights Western Union’s effort to modernize remittances through blockchain technology. The investment bank described stablecoins as an opportunity for innovation, not a disruption, for firms that adapt their payment infrastructure.

Analysts expect more details at Western Union’s November 6 Investor Day, but noted that stablecoin-enabled transfers could cut settlement times, reduce pre-funding, and enhance capital efficiency, particularly across inflation-prone emerging markets.

The company’s Digital Asset Network, offering access through 380,000 agent locations, demonstrates how traditional remittance firms can bridge crypto and fiat ecosystems to capture new transaction flows. Still, analysts cautioned that on- and off-ramp integration remains a structural challenge.

Despite progress in digital services, William Blair cited slower core money transfer growth and potential headwinds from a 2026 remittance tax. The firm maintained a “market perform” rating but said Western Union’s 10% dividend yield and low 5.3x 2026 P/E provide valuation support.

A successful digital transition and revenue reacceleration, it added, will be key tests for management. Following the announcement, WU shares rose 2% to $9.68 in early trading.