- Western Union plans to launch USDPT stablecoin in May 2026, entering crypto payments in a big way.
- Solana is chosen for speed and scale, handling massive stablecoin volumes across global transaction networks.
- Move signals a growing trend of traditional finance firms adopting blockchain for faster, cheaper cross-border settlements.
Missed the biggest crypto news of this week? This week delivered a wave of major developments across the crypto industry, from big institutional moves to tightening regulations and shifting market trends.
From stablecoin expansion to Bitcoin’s next price targets, here are the five biggest crypto news stories that shaped the market.
Western Union Enters Crypto With Stablecoin Push
In one of the biggest TradFi-meets-crypto moments this year, Western Union surprised the market by announcing plans to launch its own stablecoin, USDPT. The new token is set to go live in May 2026 on the Solana network, marking a major step into the crypto space.
The payments giant aims to use the stablecoin as a settlement tool for its partners and agents, potentially reducing reliance on traditional systems like SWIFT. This marks a major step toward integrating crypto into mainstream financial infrastructure.
Solana’s role is also notable. The network processed a record $650 billion in stablecoin volume in a single month in early 2026, with median transaction fees under $0.001.
Alongside USDPT, Western Union is building a broader crypto ecosystem. Its upcoming Digital Asset Network (DAN) will connect crypto wallets with over 600,000 agents worldwide, enabling users to send digital assets and receive cash without needing a bank account.
CLARITY Act – Markup Expected in May, Floor Vote in June
Crypto regulation in the United States took a step forward as the CLARITY Act moved closer to a Senate vote. Cynthia Lummis signaled that a markup could happen in May, putting the bill on track for a potential vote by mid-year.
Senate Banking Committee Chairman Tim Scott described the legislation as being “in the red zone,” suggesting strong momentum behind it.
The bill could bring long-awaited clarity to the crypto market structure in the U.S., an issue that has slowed institutional participation. However, market expectations have cooled slightly. Prediction platform Polymarket now places only a 40% chance of the bill being signed into law in 2026, down from 80% earlier this year.
Still, if passed, the legislation could reshape how digital assets are regulated and traded in the world’s largest financial market.
Fed Holds Rates Steady, Markets Left Disappointed
The Federal Reserve held interest rates steady at 3.50%–3.75% for a third consecutive meeting. Markets had already priced in this decision, with the CME FedWatch tool showing near certainty ahead of the announcement.
However, what disappointed investors was the lack of any signal for future rate cuts.
Fed Chair Jerome Powell maintained a firm stance, noting that inflation remains above the 2% target. At the same time, the U.S. economy continues to show resilience, with unemployment around 4.3% and steady job growth.
Kazakhstan Cracks Down on Crypto Crime
On 30th April, authorities in Kazakhstan delivered one of the largest enforcement actions of the week, targeting a major illicit crypto network.
The country’s Agency for Financial Monitoring seized $3.2 million in Tether (USDT) linked to the now-defunct RAKS Exchange. Investigators revealed that the platform handled more than $224 million in illegal transactions, serving as a hub for darknet activities.
The operation involved tracking over 4,000 crypto wallets tied to criminal networks across multiple countries, including Russia, Ukraine, and Moldova. In total, authorities froze more than $9.7 million in digital assets during the investigation.
Prediction Markets Surge as XO Challenges Polymarket
The prediction market sector is gaining serious traction, with new entrant XO Market introducing a user-driven model that could disrupt established platforms.
Unlike competitors like Polymarket and Kalshi, XO allows users to create and monetize their own prediction markets. This shift could significantly expand the range of tradable events.
The platform is already seeing early success. Since launching its beta, XO has generated over $150 million in trading volume, attracted more than 30,000 users, and hosted over 600 user-created markets.
The broader industry is also booming. Prediction market volume surged to over $60 billion in 2025, up sharply from around $15–$16 billion the previous year. This rapid growth reflects rising demand for alternative tools to price uncertainty in politics, economics, and global events.
Bitcoin Eyes $95K as Market Strength Builds
Meanwhile, Bitcoin entered May with a near 2% gain, testing resistance at $80,000.
Crypto analyst Michael van de Poppe says liquidity data points to a potential move toward $95,000. If BTC reaches that level, he argues, the bear market may be effectively over, setting up a new all-time high run later in 2026.
As these trends unfold, the coming weeks could prove critical in determining the next direction for the global crypto market.
Related: Gemini Olympus Gains CFTC Approval for Derivatives Clearing
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