The payments giant partners with federally regulated Anchorage Digital Bank to enable institutional settlement using Western Union’s dollar-backed stablecoin, expanding its blockchain payment infrastructure. Visa has expanded its stablecoin settlement capabilities through a partnership with Anchorage Digital, allowing eligible financial institutions and payment partners to settle obligations using Western Union’s USDPT stablecoin. Announced on November 12, 2026, the collaboration enables USDPT to function as a native settlement asset on VisaNet, Visa’s global payment processing network.
Anchorage Digital Bank, a federally chartered U.S. digital asset bank, issues and custodies USDPT, providing the regulated infrastructure supporting the arrangement. The agreement also establishes a framework for potentially adding other stablecoins issued by Anchorage Digital, although no additional tokens or implementation dates have been confirmed. The development represents another step in Visa’s strategy to integrate blockchain-based settlement into traditional financial infrastructure, offering institutional partners alternatives to conventional banking arrangements.
Western Union’s USDPT Becomes Visa Settlement Asset
Under the partnership, Visa and eligible institutional partners can use USDPT to fulfill settlement obligations arising from transactions processed through VisaNet. USDPT is a U.S. dollar-backed stablecoin introduced by Western Union in May 2026 on the Solana blockchain. The token is issued by Anchorage Digital Bank and backed by dollar-denominated reserves, with redemption available at a 1:1 ratio. Western Union developed USDPT to support cross-border payments, treasury operations and more efficient international settlement across its global money transfer network.
By adding USDPT, Visa provides participating institutions with another option for managing payment obligations without relying exclusively on conventional bank settlement processes. However, the arrangement concerns institutional settlement rather than direct consumer cryptocurrency payments at merchants. Visa has not specified which blockchain networks will process USDPT settlement transactions under the new agreement. Anchorage Digital Chief Executive Nathan McCauley emphasized that institutional adoption requires regulated financial infrastructure alongside faster payment technology.
Visa executive Dan Roesbery similarly described the partnership as expanding settlement choices for financial institutions using its network. Anchorage Digital currently issues several institutional stablecoins, including Tether’s USAT, Ethena Labs’ USDtb, OSL Group’s USDGO and Zelle’s ZLUSD. The companies may consider supporting additional Anchorage-issued tokens following the initial USDPT integration.
Visa Accelerates Stablecoin Settlement and Institutional Adoption
The partnership builds on Visa’s expanding stablecoin infrastructure as financial institutions increasingly explore blockchain-based payment systems. In September 2026, Visa reported that its stablecoin settlement volume had reached an annualized run rate exceeding $20 billion, representing more than fifteenfold growth from the previous year. Visa has also expanded blockchain support and introduced stablecoin-powered payment services for banks, fintech companies and cross-border payment providers. In October, Visa Direct moved stablecoin-enabled prefunding from pilot operations into commercial deployment through payments processor Inyo Global.
Separately, Western Union launched its USDPT-backed Stablecard with Rain in August, allowing eligible consumers to access digital-dollar balances through Visa card infrastructure. That consumer offering remains distinct from the newly announced institutional settlement partnership. For Anchorage Digital, the agreement strengthens its position as a regulated provider of stablecoin issuance, custody and settlement infrastructure. Its Atlas network already supports institutional collateral management, cross-border transfers and off-exchange settlement. The collaboration highlights growing demand for stablecoins within established financial networks, although the companies have not disclosed expected transaction volumes, participating institutions or the financial terms of the agreement.
