As of October 31, 2025, Solana continued to attract payments attention as plans to use the network for Western Union’s Dollar Stable CoinRail continued to circulate in industry media. The money transfer giant wants to issue US Dollar Payment Tokens (USDPT) on Solana, with Anchorage Digital Bank handling the issuance, and connect it to a new digital asset network to speed up cross-border remittances. The move shows Western Union is moving away from early tests with other blockchains to chains that can handle high volumes at lower costs.
Reporters today contrasted Western Union’s new approach to Solana with the 2018 XRP pilot. At the time, the company said the XRP test was too limited and too costly to show real savings, so it remained in trial mode and did not scale up. In comparison, Solana offers lower transaction fees, higher throughput, and token expansion tools, making it easier to build regulated dollar tokens. The media noted that this combination better fits what licensed remittance companies require in their daily high-volume operations.
Why Solana offers big businesses two ways to win
Analysts also quoted Matt Hogan, Bitwise’s chief investment officer, who reiterated that Solana offers “two ways to win” in today’s market. The chain can host payments, stablecoins, tokenization flows, and continue to attract capital through Solana-focused investment products, including ETFs. The outlet used his arguments to show why major payments and fintech companies continue to choose Solana instead of reviving old experiments with other networks.
Solana’s own public message, again quoted by the media today, also corroborated that story. The foundation calls Solana a “global financial infrastructure for everyone,” moving away from a focus solely on Web3 apps and NFTs. That framework now aligns with Western Union’s plans to bring a regulated dollar token onto the chain in 2026, so the story can be read as part of a long-term move toward financial-grade use cases.
Solana analyst says $190 support is key to new rally
Analyst Ali said Solana needs to hold $190 to maintain a bullish setting. On October 30th, he shared a TradingView chart showing that SOL has been in an upward channel since the spring and is currently testing the lower band. If buyers stick to this area, this move could lead to a recovery towards $240 and an extension to $300 if momentum is strong.
According to the analysis, the price respected the channel many times in 2025, rebounding from the lower trend line and then moving to the midline or upper bound. SOL is again close to its support, so the setup still favors recovery over a deeper breakdown. However, Ali pointed out that a full break below $190 would invalidate the immediate bullish scenario and pave the way for the next support level within the channel.
Traders are also eyeing the move as it aligns with Solana’s fundamental rally narrative this week, including Western Union’s decision to build a stablecoin rail on Solana. When technical support and positive news flow appear at the same time, the market often gains enough confidence to test higher targets marked on the chart.