Visa adds Anchorage-issued USDPT as native settlement asset

What happened

Anchorage Digital and Visa announced that eligible companies can settle obligations on VisaNet using USDPT, a dollar-pegged stablecoin issued and custodied by Anchorage Digital Bank. Western Union's token is the first Anchorage-issued stablecoin to receive that support, according to Decrypt and Crypto.news.

The reports describe USDPT as a native settlement asset for Visa payments. The initial launch covers Western Union's token, and the companies said the arrangement creates a framework for adding more Anchorage-issued stablecoins in the future. The announcements do not state that every stablecoin issued by Anchorage has been accepted.

Anchorage describes itself as America's first federally chartered crypto bank and is overseen by the Office of the Comptroller of the Currency. CEO Nathan McCauley said speed by itself is not enough to bring institutions onchain and that institutions want a regulated institution behind the money. Visa vice president Dan Roesbery described the USDPT support as another trusted, institution-grade option for partners settling with Visa.

Why it matters

The arrangement extends an Anchorage-issued stablecoin into a payment network that reaches merchants and banks worldwide. For Anchorage, it advances a stated ambition to act as a settlement bank for stablecoins at institutional scale, combining token issuance with custody and settlement infrastructure rather than serving only as an issuer.

For Western Union, the companies say round-the-clock settlement can reduce reliance on prefunded accounts in destination markets, where balances can tie up working capital across time zones and banking hours. Anchorage also cites faster reconciliation and fewer manual or batch processes as intended operating benefits. Neither company's announcement sets out a reduction in remittance charges or cash-out fees tied to the Visa integration.

What the data shows

Crypto.news reported that Visa disclosed a settlement run rate above $25 billion during its Oct. 27 earnings call, ten times the year-earlier level. Chief executive Ryan McInerney said settlement services covered 10 blockchains and all five of Visa's geographic regions, with more than 225 stablecoin-linked card programs reaching 5 million cards in over 50 countries. The annualized figure expresses the pace of settlement over a full year; it is not the total processed during fiscal 2026 or a measure of USDPT activity.

Visa's Monad settlement integration on Nov. 10 gave participating card issuers and merchant payment processors another network for settling obligations, though the Monad Foundation did not identify which stablecoins would be used on that chain. A separate Lloyds Banking Group pilot settled $750,000 of obligations over seven days, and Visa said funds reached it in the United States in under an hour, including weekend transfers.

Background

Visa has been weaving stablecoins into its settlement plumbing. Decrypt reported that the payments giant has built a stablecoin settlement program spanning networks including Base and Polygon, launched a platform to help banks and fintech firms issue and move stablecoins, and moved into onchain lending tied to its cards.

Western Union launched USDPT on May 4 as a dollar-backed asset for payments across its network, with Solana identified as its blockchain and Anchorage Digital Bank N.A. as its issuer. Western Union also launched Stablecard with Rain on Aug. 4, bringing a USDPT wallet and linked Visa card to 37 markets, with an announced target of more than 60 markets by year-end. Anchorage issues a roster of institution-grade stablecoins, including Tether's U.S.-regulated USAT, Western Union's USDPT and Ethena's USDtb, each redeemable one-to-one for dollars. Its Atlas network handles off-exchange settlement, collateral management and cross-border transfers, and Anchorage has positioned itself as custody backbone for the U.S.-Mexico stablecoin corridor.

What is still unclear

The Visa partnership announcement does not separately specify the settlement chain for the USDPT integration. It also does not state that all Anchorage-issued tokens are covered, and it does not publish an amount showing what a sender or recipient would save. The stated savings concern funding and settlement operations rather than remittance or cash-out charges.

What to watch

The companies said support for additional Anchorage-issued stablecoins could follow the initial USDPT launch. Western Union's announced target for expanding Stablecard to more than 60 markets by year-end is another item to watch, as is Visa's continued addition of settlement networks and stablecoin-linked card programs.

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