Anchorage Digital, a federally chartered cryptocurrency bank in the United States, has announced that Visa and eligible partners can now settle obligations through its VisaNet network using USDPT, a dollar-backed stablecoin issued for Western Union. The development marks an expansion of institutional stablecoin adoption, bringing a bank-issued digital asset into Visa’s payment settlement infrastructure.
USDPT is the first stablecoin issued by Anchorage Digital to receive approval for this settlement function on VisaNet. The two companies are also developing a framework to evaluate additional stablecoins issued by Anchorage Digital Bank for potential inclusion in the network.
Under the arrangement, USDPT will function as a native settlement asset on VisaNet, allowing Visa and eligible partners to use the stablecoin directly to meet settlement obligations rather than relying exclusively on conventional settlement mechanisms.
The agreement is expected to strengthen the connection between regulated financial institutions and blockchain-based payment infrastructure. It also provides Anchorage Digital with an opportunity to expand its role in institutional settlement beyond issuing digital assets.
Representatives from Anchorage Digital emphasized that faster settlement speeds alone would not be sufficient to encourage traditional financial institutions to adopt blockchain-based systems. Institutional participants also require confidence in the regulated entities responsible for issuing and backing the money used in transactions.
Visa described USDPT as an additional institution-grade settlement option for its partners, reflecting the company’s efforts to expand the range of digital assets available across its payment infrastructure.
USDPT Launches on Solana With Western Union’s Global Network
USDPT was introduced in May 2026 on the Solana blockchain. Anchorage Digital is responsible for issuing the stablecoin, while Fireblocks provides the wallet and settlement infrastructure supporting its operations.
Western Union initially introduced USDPT in the Philippines and Bolivia as part of its broader digital asset strategy. The company intends to use the stablecoin to facilitate continuous settlement across its international network, which spans more than 200 countries.
The integration with VisaNet expands the potential applications of USDPT beyond Western Union’s internal payment operations. Its availability within Visa’s settlement infrastructure could provide additional opportunities for financial institutions and payment partners to use the token for institutional transactions.
The arrangement also brings together three distinct components of the digital payments ecosystem: Anchorage Digital’s regulated banking infrastructure, Western Union’s international money transfer network, and Visa’s global payment settlement system.
Visa Expands Stablecoin Settlement Infrastructure
The USDPT integration forms part of Visa’s broader strategy to increase the use of stablecoins in payment settlement. The company has been expanding its blockchain network coverage and adding more digital asset options to accommodate institutional demand.
According to Visa, its annualized stablecoin settlement run rate reached $20 billion in September 2026, representing an increase of more than 15 times compared with the level recorded a year earlier.
Visa has also expanded its settlement capabilities through additional blockchain integrations, including Monad, Canton, Base and Tempo. These developments indicate that the company is exploring multiple blockchain environments rather than concentrating its settlement operations on a single network.
The speed of a stablecoin. The trust of a federally regulated bank.
Anchorage Digital and @Visa are partnering to support select Anchorage Digital Bank issued stablecoins as native settlement assets on the Visa network, starting with USDPT, Western Union’s stablecoin.
Learn more ↓
https://t.co/C9KNjpNhC7— Anchorage Digital ⚓️ (@Anchorage) November 12, 2026
For Anchorage Digital, the agreement supports its ambition to become a settlement bank for stablecoins. The company has previously issued stablecoins for several financial and digital asset organizations, including Tether, OSL Group, Ethena Labs, Falcon Finance and Zelle.
Its expanding institutional relationships suggest that Anchorage is seeking to establish a broader role across stablecoin issuance, custody and settlement services.
Stablecoin Market Faces Changing Conditions
The Visa integration comes amid changing conditions in the broader stablecoin market. The total stablecoin supply has declined to approximately $280 billion, compared with around $300 billion in March 2026.
Despite the contraction, financial institutions and payment companies continue to explore stablecoins as instruments for cross-border transfers, institutional settlement, and round-the-clock financial operations.
The framework being developed by Visa and Anchorage Digital could pave the way for additional Anchorage-issued stablecoins to gain access to VisaNet, potentially expanding regulated digital asset settlement options for institutional participants.
The agreement therefore represents more than the addition of another stablecoin to Visa‘s network. It establishes a potential pathway for regulated bank-issued digital currencies to become part of established global payment infrastructure, connecting blockchain-based settlement with traditional financial services.
