Visa adds Western Union's USDPT stablecoin to its settlement network
Why it matters
For payment firms, Visa now treats a bank-issued digital dollar as real money for settling bills. That makes regulated stablecoins a practical treasury option, not just a crypto experiment.
Post to XThe short version
On 12 November, Anchorage Digital said Visa will let partners settle what they owe each other using USDPT, a digital token from Western Union designed to always be worth one dollar. Western Union works in more than 200 countries. Anchorage, a US bank focused on digital money, issues the token and may add others later.
Here's what happened. Anchorage Digital, a US crypto bank, said on 12 November that Visa will accept some of the stablecoins it issues to settle payments between Visa and its partners. The first is USDPT, the digital dollar Anchorage issues for Western Union.
A stablecoin is a token designed to always be worth one dollar. Settling in one lets partners square up what they owe on VisaNet with a token that moves on a blockchain, rather than waiting on bank transfers.
Western Union launched USDPT in May on Solana, starting in the Philippines and Bolivia, according to The Block. It plans round-the-clock settlement across its network of 200+ countries.
Anchorage said the deal sets up a framework to add more of its stablecoins later. It already issues tokens for Tether, OSL Group and Ethena Labs, among others.
Put it in context. Visa's yearly stablecoin settlement pace reached $20bn in September, more than 15 times the level a year earlier, The Block reported.
Where this comes from
Written with AI from the sources above and checked against them before publishing. Here's how we work. This is news, not financial advice. Spotted a mistake? Tell us.