Visa Adds USDPT to VisaNet Through Anchorage Digital

Anchorage Digital announced Thursday that Visa will add USDPT to VisaNet, allowing eligible partners to settle network obligations with the Western Union-linked dollar stablecoin.

What changes for VisaNet settlement?

Under the agreement, Visa and eligible partners can use USDPT to meet VisaNet obligations, the balances that participating financial institutions owe to settle transactions on Visa’s payments network. The arrangement adds a native stablecoin settlement asset to Visa’s existing options and remains limited to eligible partners rather than a general consumer rollout.

For eligible institutions, the operational change is the settlement asset. They gain another way to manage obligations with digital dollars while remaining within Visa’s existing participant framework.

Anchorage Digital Bank will support select stablecoins as native settlement assets on Visa’s network, starting with USDPT. The agreement also creates a framework for assessing other stablecoins issued by the bank. Visa said the collaboration gives partners more settlement choices backed by regulated financial infrastructure.

“Stablecoins have made money move faster, but speed alone won’t bring institutions onchain,” said Anchorage Digital CEO Nathan McCauley. He said institutions need regulated infrastructure that combines stablecoin transfer speed with the oversight of a federally chartered bank.

Visa Vice President of Global Crypto Partnerships Dan Roesbery said the collaboration would provide partners with additional settlement options backed by regulated financial infrastructure.

Who issues USDPT?

USDPT is a US dollar stablecoin issued by Anchorage Digital Bank on Solana, not a token issued directly by Western Union. The distinction matters because Visa’s agreement runs through Anchorage Digital, while Western Union introduced the asset for its own treasury and payment operations.

The announcement lists a May 2026 launch for USDPT. Western Union introduced the token to support treasury management, cross-border transfers and settlement across its global payment network.

The company aims to use the stablecoin to reduce reliance on prefunded accounts and improve capital efficiency by allowing funds to move continuously. The announcement says USDPT is fully backed by US dollar reserves and redeemable at a 1:1 ratio.

How does Stablecard fit?

In August, Western Union launched Stablecard with Rain, combining a USDPT wallet with a Visa card. Stablecard debuted in 37 markets, and the companies plan to expand it to more than 60 markets by the end of 2026.

The Stablecard rollout is separate from the institutional agreement, which targets eligible financial institutions meeting Visa obligations with USDPT.

How large is Visa’s stablecoin activity?

Visa reported in September that its stablecoin settlement volume had surpassed a $20 billion annualized run rate, more than 15 times the level a year earlier. The figure places the new USDPT option inside a settlement program Visa had already scaled, rather than introducing stablecoins to the network for the first time.

Visa has been expanding its stablecoin infrastructure as institutional adoption accelerates. The USDPT arrangement extends that buildout to an asset already used by Western Union, while the token remains issued by Anchorage Digital Bank.

Tether’s $100 million investment in February valued Anchorage Digital at $4.2 billion. Anchorage also issues stablecoins for institutions including Tether, Ethena Labs and OSL Group. Beyond issuance, it operates Atlas, an institutional settlement network for collateral management, off-exchange settlement and cross-border transfers.

What comes next?

Visa and Anchorage Digital said the framework could eventually cover additional stablecoins issued by Anchorage Digital Bank. Neither party named another token or announced a rollout date, leaving the near-term implementation centered on USDPT and eligible Visa partners.

The next market-structure test is live usage: without an expansion timetable, broader adoption depends on eligible institutions using USDPT to clear recurring VisaNet obligations.