Western Union has selected Noah to power its Receiver Redirect stablecoin service, built on Anchorage Digital Bank-issued USDPT.
Under the agreement, US- and UK-based Noah will provide the on-chain banking network behind Receiver Redirect, a Western Union service that delivers money transfers to recipients in stablecoin. The companies said the service will support transfers in more than 60 currencies across over 200 countries and territories. It will be available to Western Union’s customer base of more than 150 million people.
How Receiver Redirect works
The service runs on USDPT, a US dollar stablecoin issued on the Solana blockchain by Anchorage Digital Bank, a US national trust bank. Senders can initiate transfers through Western Union’s network of more than 500,000 agent locations. The funds are then delivered as USDPT into a recipient’s Western Union wallet. Recipients can hold the stablecoin indefinitely through Stablecard, a product that Western Union announced in August 2026.
Noah’s infrastructure covers the back-end requirements of the flow. It provides Western Union with the treasury and licensing capabilities needed to pre-fund, convert, and disburse USDPT to recipients. Moreover, it is responsible for local regulatory compliance across the stablecoin rails used for each transfer. According to the issuer’s disclosures, USDPT is not issued, backed, or guaranteed by the US government. It is also not insured by the Federal Deposit Insurance Corporation (FDIC) or any other US government agency.
Malcolm Clarke, Global Head Digital Assets at Western Union, said customers increasingly want more flexibility in how they receive, hold, and use money. The official described the capability as a global first because it routes a Western Union transfer directly into a customer’s Stablecard wallet. Clarke added that it links the company’s money movement network with its digital asset ecosystem.
Remittance costs and stablecoin adoption
The service targets global remittance flows, which the World Bank estimates at USD 905 billion a year. The World Bank also reports that fees on international remittances average 6% of the transfer value. Noah and Western Union expect stablecoin settlement to cut delivery times from days to hours and to reduce costs to a fraction of current levels.
The announcement comes as stablecoins see growing use in cross-border payments. B2B stablecoin volume has reached an annualised USD 226 billion in 2026, an increase of 733% year on year. Stablecoins still account for less than 1% of global cross-border B2B flows.
Shah Ramezani, Founder and CEO of Noah, stated that moving money internationally through traditional banks is slow and expensive, adding that stablecoins provide a faster and cheaper alternative.
Noah’s technology links stablecoin settlement with local payment rails, which lets businesses move funds internationally without relying on correspondent banking. Its network currently covers more than 100 countries and 40 currencies.
The arrangement shows a division of roles that is emerging in stablecoin-based remittances. A regulated bank issues the token, an infrastructure provider handles conversion, liquidity, and compliance, and an incumbent money transfer operator provides customer access and distribution.
