Anchorage Digital adds USDPT to Visa settlement network
By Liezl GambeKey points
- Anchorage Digital Bank has partnered with Visa to support Western Union’s USDPT stablecoin for Visa network settlements.
- Visa and eligible partners can use USDPT to settle VisaNet obligations.
- The partnership creates a framework for adding other Anchorage-issued stablecoins to Visa’s settlement network.
Anchorage Digital Bank has added Western Union’s U.S. Dollar Payment Token (USDPT) to Visa’s settlement network.
Visa Inc (NYSE:V) and eligible partners can now use USDPT to settle their VisaNet obligations.
“Stablecoins have made money move faster, but speed alone won't bring institutions onchain,” Anchorage Digital CEO Nathan McCauley said in a statement.
The partnership makes USDPT the first Anchorage-issued stablecoin supported as a native settlement asset on Visa’s network.
Visa Vice President Dan Roesbery said the integration gives partners another settlement option backed by a federally chartered bank.
Anchorage Digital Bank also issues stablecoins for Tether, OSL Group, Ethena Labs, Falcon Finance and Zelle.
The bank says these stablecoins are fully backed by US dollars and cash equivalents, with one-to-one redemption.
The agreement establishes a framework for Visa to support additional Anchorage-issued stablecoins beyond USDPT.
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