USD
Visa Adds Western Union’s USDPT to Settlement Network Through Anchorage Digital
Federally chartered bank supports VisaNet stablecoin settlements as companies prepare to expand eligible tokens
TL;DR
- Visa and Anchorage Digital have partnered to support Western Union’s USDPT as a native settlement asset on VisaNet, allowing Visa and eligible partners to settle payment obligations using the stablecoin.
- Anchorage Digital Bank issues and custodies USDPT, while the agreement establishes a framework for adding more Anchorage-issued stablecoins to Visa’s settlement network.
- The partnership expands Visa’s stablecoin infrastructure as its annualized settlement volume grows and Anchorage pursues a broader institutional settlement role.
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Visa and Anchorage Digital announced a partnership on November 12, 2026, allowing Visa and eligible partners to settle VisaNet obligations using Western Union’s USDPT stablecoin. The dollar-pegged token, issued and custodied by federally chartered Anchorage Digital Bank, becomes the first Anchorage-issued stablecoin supported as a native settlement asset on Visa’s network. The companies also established a framework to consider additional tokens issued by Anchorage Digital Bank.
The arrangement allows eligible institutions to use regulated, bank-issued stablecoins for settlement directly through Visa’s existing payment infrastructure. Anchorage Digital operates what it describes as America's first federally chartered cryptocurrency bank, overseen by the Office of the Comptroller of the Currency (OCC).
Anchorage Digital co-founder and CEO Nathan McCauley emphasized the importance of combining blockchain-based settlement with federally regulated banking services.
“Stablecoins have made money move faster, but speed alone won't bring institutions onchain,” McCauley said. “They 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.”
Dan Roesbery, Visa’s vice president for crypto partnerships, said supporting USDPT gives the company’s partners “another trusted, institution-grade option” for settling obligations with Visa.
Western Union’s USDPT Expands Anchorage Digital’s Institutional Settlement Role
Western Union’s USDPT debuted in May on the Solana blockchain, with Anchorage Digital Bank responsible for issuance and Fireblocks providing wallet and settlement infrastructure. Western Union initially launched the stablecoin in the Philippines and Bolivia, with plans to enable round-the-clock settlements across its network spanning more than 200 countries.
Anchorage Digital already issues stablecoins for several financial and cryptocurrency companies, including Tether’s USAT, OSL Group’s USDGO, Ethena Labs’ USDtb, Falcon Finance’s fUSD and Zelle’s ZLUSD. Its institutional stablecoin offerings are structured for one-to-one redemption against the U.S. dollar.
Beyond issuance and custody, Anchorage operates Atlas, a counterparty settlement network supporting off-exchange settlements, collateral management and cross-border transfers. The company has also expanded into onchain lending through Spark and custody-based collateral management services.
Anchorage recently established a custody role supporting the U.S.-Mexico stablecoin corridor, holding tokens used on both sides of the cross-border remittance route. Its collaboration with Visa extends those institutional services into a global payment network connecting merchants, banks and financial institutions.
The company has characterized its broader strategy as becoming the “settlement bank for stablecoins,” providing the underlying infrastructure for stablecoin issuance, custody and institutional transactions.
Anchorage Digital previously raised $350 million in a Series D funding round in 2021, reaching a valuation exceeding $3 billion.
Visa Broadens Stablecoin Settlement as Market Supply Contracts
Visa’s Anchorage Digital partnership follows several initiatives to expand blockchain-based settlement capabilities. The payments company has added networks including Base, Polygon, Monad, Canton and Tempo to its stablecoin infrastructure.
Visa has also introduced a platform designed to help banks and financial technology companies issue and transfer stablecoins, alongside initiatives involving onchain lending connected to its payment cards.
The company said in September that its annualized stablecoin settlement run rate had reached $20 billion, more than 15 times its level a year earlier.
The expansion comes during a contraction in the broader stablecoin market. According to The Block’s data dashboard, total stablecoin supply has declined, although Tether’s USDT and Circle’s USDC remain the largest stablecoins by circulating supply.
The Visa agreement provides Anchorage Digital with another channel for its stablecoin infrastructure beyond issuance and custody. Visa and eligible partners can now use USDPT for settlement, while the framework established by both companies allows them to evaluate additional Anchorage-issued stablecoins for future support.
This article has been refined and enhanced by ChatGPT.
