HIGHLIGHTS Visa and Anchorage Digital now support Western Union's Solana-based USDPT for settlement on VisaNet's network. Western Union launched USDPT on Solana in May, with Anchorage Digital Bank issuing a dollar-backed stablecoin. Visa and Anchorage Digital plan to assess more bank-issued stablecoins for future settlement on VisaNet later. Visa is expanding its stablecoin settlement network through a partnership with Anchorage Digital Bank, starting with Western Union's USDPT token. The agreement will allow Visa and eligible partners to use the Solana-based stablecoin to settle obligations on VisaNet.
Visa Partners With Anchorage Digital for USDPT Settlement
On November 12, Anchorage Digital announced that some of the bank's federally chartered stablecoins are now eligible settlement assets. The new arrangement will cover USDPT, the first supported token of Western Union.
The companies will also put in place a process to review other stablecoins issued in the region of Anchorage as they plan to launch them through Visa's payments system. Both companies, however, have yet to announce a timeframe for adding additional tokens or for gaining access to more partners.
In order for institutions to adopt, they need regulated financial infrastructure and quicker transactions on the blockchain," said Nathan McCauley, president and CEO of Anchorage Digital. He claimed that in order to have stablecoins settled at scale, institutions must have federally supervised issuers.
The agreement builds upon Visa's current stablecoin settlement services, such as the October launch of USDC prefunding for Visa Direct payments.
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Western Union's USDPT Stablecoin Operates on Solana
Western Union launched USDPT in May 2026, selecting Anchorage Digital Bank as the regulated issuer and Solana as its blockchain network. Fireblocks develops wallet and settlement foundation for the digital asset.
The dollar-backed token was first introduced in the Philippines and Bolivia for institutional settlements and cross-border transactions. Western Union will implement USDPT throughout its global payments network, which spans over 200 countries and territories.
The company also launched Stablecard, which enabled the customers to hold USDPT and spend via Visa payment channels. The product served 37 markets at the outset and is to be expanded to more than 60 markets.
Western Union's stablecoin expansion on Solana also includes infrastructure connecting digital wallets with traditional cash payouts.
Visa Expands Stablecoin Settlement Across Blockchain Networks
Visa's latest agreement follows its continued expansion into blockchain-based institutional settlement services. The payments company recently added Monad to its supported networks, alongside Canton, Base, Tempo, and other blockchain platforms.
In September, Visa reported that its annualized stablecoin settlement run rate had reached $20 billion. The figure represented growth of more than fifteen times compared with the previous year.
Meanwhile, Anchorage Digital continues expanding its institutional stablecoin services beyond token issuance. The bank also supports assets associated with Tether, OSL Group, Ethena Labs, Falcon Finance, and Zelle.
Anchorage said its partnership with Visa supports its goal of becoming a settlement bank for institutional stablecoin transactions. The companies have not disclosed expected USDPT settlement volumes or the number of partners eligible to use the service.
