US federally chartered crypto bank Anchorage Digital announced that Visa and eligible partners can now settle obligations on VisaNet using USDPT, the stablecoin it issues for Western Union. USDPT is the first Anchorage-issued token to receive this status on Visa’s network, and the companies are developing a framework to assess further additions.
Under the agreement, USDPT functions as a native settlement asset on VisaNet, which means Visa and eligible partners can use the token directly to settle obligations. The framework being developed by the two companies would allow them to evaluate other stablecoins issued by Anchorage Digital’s bank for inclusion in the network.
A company official at Anchorage Digital said that faster settlement alone will not move institutions onchain, and that institutions want a regulated entity standing behind the money they use. Furthermore, a Visa representative described USDPT as an additional institution-grade option for the company’s partners.
USDPT’s background and Western Union’s rollout
USDPT launched in May 2026 on the Solana blockchain. Anchorage Digital handles issuance of the token, while Fireblocks provides the wallet and settlement infrastructure. Western Union first introduced the stablecoin in the Philippines and Bolivia, and plans to use it for round-the-clock settlement across its network, which covers more than 200 countries.
The addition to VisaNet extends the token’s potential use beyond Western Union’s own operations, placing it within a card network settlement environment alongside other stablecoin options.
Visa’s stablecoin settlement expansion
For Visa, the integration provides another stablecoin choice as the company broadens its settlement network. According to Visa, its annualised stablecoin settlement run rate reached USD 20 billion in September 2026, more than 15 times the figure recorded a year earlier. The company has also added networks, including Monad, Canton, Base, and Tempo to its settlement options.
Anchorage Digital has previously issued stablecoins for Tether, OSL Group, Ethena Labs, Falcon Finance, and Zelle. The company has positioned the Visa integration as part of its objective to become a settlement bank for stablecoins, extending its role beyond issuance into custody and settlement services for institutional clients.
The arrangement brings together a bank-issued stablecoin, Western Union’s multi-country network, and VisaNet within a single settlement flow, with the framework under development indicating that further Anchorage-issued tokens could follow. It comes as the total stablecoin supply has declined to approximately USD 280 billion, down from USD 300 billion in March 2026.
