Western Union’s newest announcement has shaken the crypto industry and ignited fierce debate among analysts. Crypto influencers Mason Versluis and Mickle have taken opposing sides in the controversy after Western Union confirmed it will build a U.S. dollar–backed stablecoin, USDPT, on the Solana blockchain.
The remittance giant’s decision to partner with Solana rather than Ripple has fueled speculation that XRP’s long-standing dominance in cross-border payments could be under threat.
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Mason Versluis Calls It “Bad News for XRP”
Mason Versluis reacted quickly, describing the news as “crazy” and potentially damaging for XRP. “Solana just did something crazy, and this could be bad news for XRP,” he said in a recent video. According to Versluis, “Western Union has partnered and chosen to build exclusively on Solana, not with xrp or ripple.
He emphasised that this partnership is “a basic fact” rather than an opinion. “They are choosing Solana,” he continued, explaining that Western Union is rejecting the need for a bridge currency. “They are saying there is no bridge currency. There are stablecoins on Solana,” Versluis said.
He added that this approach challenges Ripple’s core mission. “You guys know XRP — that’s its main mission, to be the bridge currency,” he explained. “But what I’ve started to realize is that all crypto already does that. Crypto itself is a bridge currency.”
Western Union’s Solana Partnership
Western Union’s official release confirmed that the USDPT stablecoin will be launched on Solana in partnership with Anchorage Digital Bank. The company said its new “Digital Asset Network” will enable faster, cheaper, and fully compliant global payments.
Western Union’s CEO, Devin McGranahan, described the initiative as a vital step toward digital modernization.
“As we evolve into the digital-assets space, Western Union’s USDPT will allow us to own the economics linked to stablecoins,” McGranahan stated. The company plans to integrate the stablecoin into its international transfer system, linking on-chain liquidity to its massive global network. The rollout is scheduled to begin in early 2026.
Solana was chosen for its transaction speed and scalability, as well as its ability to process thousands of payments per second at minimal cost. Western Union aims to merge its decades of compliance experience with Solana’s blockchain efficiency.
Is This a Threat to XRP?
Versluis believes the decision undermines XRP’s unique role as a bridge asset for cross-border payments. “They are propagating this idea that there is no bridge currency,” he said. “They are saying stablecoins are the bridge currency.”
However, XRP supporters argue that Ripple’s On-Demand Liquidity network remains unmatched in its ability to settle multi-currency transactions instantly.
Stablecoins like USDPT, they note, are pegged to a single fiat currency and therefore lack true interoperability. Ripple’s system allows value to move between currencies without pre-funded accounts, which remains a key advantage.
The challenge for Western Union will be to scale this new system while maintaining liquidity, compliance, and consumer trust. Converting such a large international network into a blockchain-based model will require time, capital, and flawless execution.
Mickle Fires Back
While Versluis viewed Solana’s deal as a potential blow to Ripple, Mickle dismissed it entirely. He posted, “This company will be bankrupt before it moves a billion dollars on Solana.” His comment was a direct reference to Western Union’s plan, which he believes is unsustainable.
Mickle’s remarks reflect a broader sentiment among XRP supporters. Many see Western Union’s blockchain pivot as a desperate attempt to stay relevant in a rapidly evolving payments industry. By comparing Western Union to “Blockbuster” and Ripple to “Netflix,” Mickle implied that XRP’s model remains the superior, scalable solution.
The Future of Global Payments
The Western Union–Solana partnership marks a major turning point in blockchain adoption. It pits two distinct payment philosophies against each other: Solana’s stablecoin-based model and Ripple’s bridge-asset framework. Versluis sees this as a “major shot” at XRP, while Mickle calls it a doomed venture.
Time will determine who is right. If Western Union succeeds, stablecoins may reshape international remittances. But if Ripple’s technology continues to attract financial institutions, XRP could remain the leading bridge asset in global finance. One thing is clear — the race to revolutionize payments is far from over.
