Visa’s decision to let eligible partners settle obligations on VisaNet with Western Union’s U.S. Dollar Payment Token (USDPT) adds a dollar-backed stablecoin as a network-settlement option.
Anchorage Digital announced the option Nov. 12. The company said USDPT is the first of its stablecoins supported for Visa settlement. The arrangement covers network obligations, not a checkout payment method for cardholders. Anchorage named no participating partner or first user. The companies disclosed no expected settlement volumes, fees or quantified savings.
Western Union launched USDPT on May 4 as a token denominated in U.S. dollars. The company said dollar reserves fully back it, while Anchorage Digital Bank N.A. issues it on Solana.
The Visa arrangement is separate from Stablecard, Western Union’s consumer wallet and USDPT-backed Visa card. The wallet and linked card give customers a way to hold and spend USDPT. Western Union and Rain announced Aug. 4 that Stablecard had launched in 37 markets; Western Union is targeting more than 60 markets by the end of 2026.
The Visa option adds a network-level use for USDPT alongside Western Union’s planned remittance payout route. EconoTimes previously reported the planned payout arrangement with Noah, under which recipients would collect the token through Western Union’s remittance network.
Visa said Sept. 8 that its overall stablecoin settlement volume had recently reached an annualized pace of $20 billion, more than 15 times the year-earlier level. Visa did not attribute that network-wide figure to USDPT. An annualized run rate describes a pace, not $20 billion in transactions completed over a full year.
Visa Vice President of Global Crypto Partnerships & GTM Dan Roesbery said the arrangement gives partners another settlement option, one “backed by a federally chartered bank.” Anchorage said the arrangement advances its goal of becoming a settlement bank for stablecoins at institutional scale. Anchorage said the companies would explore support for additional Anchorage-issued stablecoins but named none and gave no timetable.
