Visa Adds Western Union USDPT to VisaNet Settlement via Anchorage
Visa and eligible partners can now settle VisaNet obligations in Western Union's USDPT. Anchorage Digital, which issues the token, says it is building a framework with Visa to add more of its bank-issued stablecoins.
Western Union's USDPT is now a native settlement asset on Visa's network. Visa and eligible partners can use the stablecoin to settle VisaNet obligations, Anchorage Digital said on Nov. 12.
USDPT is the first token through the door. Anchorage said it is working with Visa to support select stablecoins issued by its federally chartered bank, and the two are building a framework to consider additional Anchorage-issued tokens.
"Stablecoins have made money move faster, but speed alone won't bring institutions onchain,"
Nathan McCauley, Anchorage Digital CEO
McCauley added that institutions "need a regulated institution behind the money. With Anchorage Digital select issued stablecoins now being supported on the Visa network, institutions get both: the speed of a stablecoin and the safety of a federally regulated bank behind it."
What USDPT is
USDPT debuted in May on Solana. Anchorage Digital Bank handles issuance. Fireblocks provides wallet and settlement infrastructure. Western Union first rolled it out in the Philippines and Bolivia, with plans to use it for 24/7 settlements across its network of more than 200 countries.
Anchorage says the Visa tie-up fits its push to become a settlement bank for stablecoins, extending beyond issuance into custody and settlement. It has already issued tokens for Tether (USAT), OSL Group (USDGO), Ethena Labs (USDtb), Falcon Finance (fUSD) and Zelle (ZLUSD).
Visa's settlement build-out
The deal lands two days after Visa added Monad to its stablecoin settlement program. Visa has also added Canton, Base and Tempo to its settlement options. This one is back-end too: it changes how Visa and its partners settle obligations, not what cardholders spend.
The numbers behind the push: Visa said in September that its annualized stablecoin settlement run rate hit $20 billion, more than 15 times the year-earlier figure.
Market backdrop
The timing cuts against a softer market. Total stablecoin supply has fallen to around $280 billion, down from $300 billion in March. USDT accounts for $177 billion. USDC sits around $70 billion.
Settlement volume and circulating supply measure different things. For Western Union, the deal gives USDPT a route onto VisaNet. For Anchorage, it adds a distribution channel for its bank-issued tokens.
USDPT's chain choice featured in our Western Union and Solana coverage. The Visa link now puts the token on card-network settlement rails.
