Western Union partners with Noah to launch USDPT stablecoin remittance service

Global remittance giant Western Union (NYSE: WU) has chosen stablecoin payment infrastructure provider Noah to provide the underlying on-chain banking network for its Receiver Redirect service. This service allows recipients of Western Union transfers to receive funds in the form of USDPT stablecoin, covering over 60 currencies and more than 200 countries and regions, aiming to reduce cross-border transfer times from several days to a few hours while significantly lowering fees. The global remittance market size is approximately $905 billion annually.

Receiver Redirect is based on the USDPT stablecoin issued by Western Union, which is issued by Anchorage Digital Bank on the Solana blockchain. Remitters can initiate transfers through Western Union's network of over 500,000 agent locations worldwide, while recipients will receive USDPT into their Western Union wallets and can hold this stablecoin asset indefinitely using the Stablecard, which will be launched in August 2026. Noah will provide the necessary fund management and licensing for pre-funding, exchange, and distribution of USDPT to recipients, while ensuring compliance with local regulatory requirements.

Malcolm Clarke, Global Head of Digital Assets at Western Union, stated that customers are increasingly seeking greater flexibility in receiving, holding, and using funds, and this new capability will seamlessly connect Western Union's global money transfer network with the digital asset ecosystem. Noah completed a $38 million seed round financing on October 7, 2026, and obtained a cryptocurrency asset service provider license and payment institution license under the EU MiCA framework on October 15.