Visa adds Western Union's USDPT stablecoin to VisaNet settlement through Anchorage Digital

Visa and eligible partners can now settle VisaNet obligations in USDPT, the Western Union dollar stablecoin issued by Anchorage Digital Bank. It is the first Anchorage-issued token to become a settlement asset on Visa's network, and the companies set up a framework to consider more Anchorage stablecoins.

USDPT launched in May on Solana, with Anchorage handling issuance and Fireblocks providing wallet and settlement infrastructure. Western Union first rolled it out in the Philippines and Bolivia.

Visa's annualised stablecoin settlement run rate reached $20 billion in September, more than 15 times the year-earlier figure. Its settlement options also include Monad, Canton, Base and Tempo.

Anchorage CEO Nathan McCauley said speed alone won't bring institutions onchain; they want a regulated institution behind the money. Dan Roesbery, Visa vice president for crypto partnerships, called USDPT another institution-grade option for partners.