Visa Adds Western Union's USDPT to Settlement Network Running at $25B Pace

Visa has added Western Union's USDPT stablecoin to its settlement network, giving eligible partners a new way to settle obligations on VisaNet. The November 12 agreement, struck with Anchorage Digital Bank, folds the dollar-backed token into a stablecoin settlement business that surpassed a $25 billion annualized run rate in October — ten times its year-earlier level.

Anchorage Digital Bank issues USDPT, which Western Union launched on Solana. The collaboration makes USDPT the first Anchorage-issued stablecoin supported under the arrangement, and it establishes a framework for evaluating additional tokens from the bank.

How does the USDPT settlement work?

Anchorage describes USDPT as a native settlement asset for VisaNet, the network through which participating financial institutions settle payment obligations. Dan Roesbery, Visa's vice president of global crypto partnerships and go-to-market, framed the move as widening partner choice.

"Supporting USDPT as a native settlement asset, in partnership with Anchorage, gives them another trusted, institution-grade option," Roesbery said.

Anchorage CEO Nathan McCauley positioned the deal within the bank's broader plan to combine issuance, custody and settlement infrastructure under one regulated roof. "Stablecoins have made money move faster, but speed alone won't bring institutions onchain," McCauley said.

What sits behind the $25 billion figure?

Visa disclosed the run-rate milestone during its October 27, 2026 earnings call. The figure expresses settlement activity at an annualized pace, not total fiscal-2026 volume and not USDPT-specific flow. In September, Visa had already reported an annualized pace above $20 billion, more than 15 times the year-earlier level.

Chief Executive Officer Ryan McInerney said settlement services now span 10 blockchains across all five of Visa's geographic regions. More than 225 stablecoin-linked card programs are in operation, representing 5 million cards across over 50 countries.

Where does USDPT come from?

Western Union launched USDPT on May 4, 2026 on Solana, with Anchorage Digital Bank N.A. as issuer. The company describes the token as fully reserve-backed and redeemable one-to-one for U.S. dollars. Planned uses include treasury management, agent settlement, cross-border transfers, consumer spending and a Digital Asset Network connecting exchanges with payout infrastructure.

The token also powers Stablecard, a separate consumer product built with Rain and launched on August 4, 2026 in 37 markets. Stablecard pairs a USDPT wallet with a Visa card: customers can receive eligible remittances, hold dollar value and spend balances at Visa merchants or ATMs. Western Union supports transfers to and from compatible wallets and exchanges, Apple Pay and Google Pay integration, and has targeted more than 60 markets by the end of 2026.

What problem does the integration target?

The stated goal is freeing working capital locked in prefunded cross-border accounts. Anchorage argues conventional arrangements force companies to hold money in destination accounts before transfers arrive, tying up balances across markets with different banking hours and time zones. Adding USDPT lets partners move funds around the clock, with faster reconciliation and fewer manual or batch processes.

Neither company's statement promises lower remittance costs or cash-out fees from the Visa integration. The announced benefits concern funding and settlement operations only, leaving consumer pricing untouched for now. The framework for evaluating additional Anchorage-issued tokens suggests the USDPT listing marks the first step in a broader rollout.