Western Union

Omar argues Western Union's stablecoin strategy—launching USDPT on Solana this quarter alongside an offramp network and consumer card—offers its best path to survival by converting ~$500M in daily pre-funding float into real-time settlement and unlocking hundreds of millions more trapped across correspondent banking. If the business gains traction, WU reprices materially or becomes an acquisition target for Circle, which could roll it into Arc and consolidate merchant and consumer payment flows across a unified chain.

Western Union's Stablecoin Bet

WU announced USDPT, a USD-pegged stablecoin on Solana via Anchorage Digital Bank (summer). Stock at ~5x P/E, 10%+ dividend yield — priced as value trap. $3.45B in settlement balances could compress cross-border cycles from days to minutes. WU's 'last mile' (hundreds of thousands of retail locations, compliance across 200+ countries) is the irreplaceable edge; GENIUS Act raises the compliance bar but makes WU's infra more valuable. Digital transactions +13% in Q4 2025 (39% of consumer volume). $500M Intermex acquisition adds 6M LatAm customers. Re-rate thesis: from dividend play to digital-payments infra (peers trade 10x+).