What is USDPT and why is it significant?

USDPT is a US dollar-pegged stablecoin launched by Western Union through Western Union Digital. Its listing on Bybit marks the first time the stablecoin has gained access to a major cryptocurrency exchange, expanding its use beyond payments and remittances.

Why did Bybit add support for USDPT?

Bybit added USDPT to give users another dollar-denominated digital asset for trading, transfers and storage. The listing also provides Western Union's stablecoin with access to crypto market liquidity and a broader user base.

What can users do with USDPT on Bybit?

Users can hold, transfer and trade USDPT directly on the exchange. This extends the stablecoin's utility beyond cross-border payments into the broader digital asset ecosystem.

Who issues and backs USDPT?

USDPT is issued by Western Union Digital and backed by reserves held at Anchorage Digital Bank. The stablecoin was initially launched on the Solana blockchain.

Why is Western Union entering the stablecoin market?

Western Union is expanding its digital asset strategy as stablecoins become increasingly important in payments and cross-border transfers. The company sees blockchain-based settlement as a way to improve transaction efficiency and reduce friction in global money movement.

How large is the stablecoin market today?

According to DeFiLlama data cited in the article, the total value of dollar-backed stablecoins has grown to nearly $320 billion. This makes stablecoins one of the fastest-growing sectors in the digital asset industry.

How does USDPT compare with other stablecoins?

USDPT enters a competitive market that includes established stablecoins such as USDC, PYUSD and RLUSD. Its key differentiator is Western Union's long-standing presence in global remittances and payments.

What role does the GENIUS Act play in USDPT's launch?

Western Union said USDPT was designed to align with the framework established under the GENIUS Act. The legislation created regulatory standards for payment stablecoins in the United States and is intended to provide greater legal clarity for issuers.

Cryptocurrency

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Bybit lists Western Union’s USDPT stablecoin

Written by Mahathir BayenaPublished Jun 5, 2026, 1:58 AM

Crypto exchange Bybit has added support for Western Union’s USDPT stablecoin, marking the first time the payment company's digital dollar has been listed on a major cryptocurrency trading platform.

The integration allows users to hold, transfer and trade USDPT on Bybit, extending the stablecoin’s functionality beyond payments and remittances into the broader crypto market.

Western Union launched USDPT in May through Western Union Digital, with reserves held at Anchorage Digital Bank and the token initially issued on the Solana blockchain.

The company said USDPT was designed to align with the framework established under the GENIUS Act, the US legislation governing payment stablecoins.

Bybit said it is the first major crypto exchange to support the stablecoin, providing Western Union with direct access to crypto market liquidity and expanding the range of dollar-pegged assets available to users.

The listing comes as stablecoins continue to grow rapidly, with data from DeFiLlama showing the total value of dollar-backed stablecoins approaching $320 billion despite broader weakness across digital asset markets.

Western Union joins a growing group of payments companies embracing blockchain-based settlement, with MoneyGram recently launching its MGUSD stablecoin, while Mastercard and Visa continue expanding stablecoin settlement initiatives aimed at improving cross-border payments and transaction efficiency.

At the time of reporting, Solana price was $68.47.