Visa adds Western Union’s USDPT stablecoin as settlement run rate hits $20bn
Visa will accept Western Union’s USDPT stablecoin to settle obligations on its VisaNet network through a new tie-up with Anchorage Digital, the companies said on Thursday. It is the second stablecoin settlement expansion from Visa in three days, after it added the Monad blockchain on Tuesday, and it lands as Visa’s annualised stablecoin settlement run rate stands at $20 billion, up more than 15 times in a year.
Under the deal, Anchorage Digital will support select stablecoins issued by its federally chartered bank as native settlement assets on Visa, starting with USDPT, The Block reported. Visa and eligible partners can now use the token to settle VisaNet obligations, and the companies are building a framework to add more Anchorage-issued stablecoins.
What is USDPT and why does Visa want it?
USDPT is Western Union’s dollar-backed stablecoin. It debuted on Solana in May 2026, with Anchorage Digital Bank handling issuance and Fireblocks providing wallet and settlement infrastructure. Western Union first rolled it out in the Philippines and Bolivia and plans 24/7 settlement across its network of more than 200 countries.
For Visa, settlement is the back-office step where banks and payment firms square up what they owe each other after card transactions. Traditionally that runs on banking hours. Stablecoins move on a blockchain that never closes, so money can settle on weekends and holidays. Adding a token backed by one of the world’s largest money transfer brands gives Visa partners another regulated option.
Anchorage CEO Nathan McCauley framed it around trust: “Stablecoins have made money move faster, but speed alone won’t bring institutions onchain.” He added that institutions “need a regulated institution behind the money.”
How big is Visa’s stablecoin business now?
In September, Visa said its annualised stablecoin settlement run rate had reached $20 billion, more than 15 times the year-earlier figure, with more than 225 stablecoin-linked card programmes live worldwide. That is still a small slice of Visa’s overall card business, but the growth rate is steep.
On Tuesday, Visa added Monad as a settlement option for issuers and acquirers. Before that, its programme already supported chains including Avalanche, Ethereum, Solana, Stellar, Circle’s Arc, Base, Canton, Polygon and Tempo, according to The Block. “Our goal is to give our partners the flexibility to settle on the blockchain networks that best meet their needs,” said Dan Roesbery, Visa’s VP of global onchain partnerships.
Why does this matter for crypto and payments?
The story here is institutional plumbing, not token prices. Card networks, banks and money transfer firms are wiring stablecoins into systems that already move real-world money. Each new settlement asset or chain gives payment companies more choice, and gives stablecoin issuers a route to everyday commerce.
It also shows the market is consolidating around regulated issuers. Anchorage already issues tokens for other partners, including USAT for Tether and ZLUSD for Zelle, per The Block. Being a federally chartered bank is the selling point.
The wider market has cooled. Total stablecoin supply is around $280 billion, down from $300 billion in March 2026, with Tether’s USDT at about $177 billion and Circle’s USDC at about $70 billion. Crypto prices are under pressure too: ether was at $1,953.96 at 8:30 a.m. ET on Friday, down 4.08% from the day before, and bitcoin slipped below $69,000 as a strong dollar bit. The payments build-out is carrying on regardless of short-term price moves.
How were traders positioned in crypto on Friday?
Crypto trades placed on WiseProp Trader on Friday leaned to selling. Of 138 BTC/USD trades, 81 were sells. All 10 SOL/USD trades and all 6 ETH/USD trades were sells, though those came from a small number of traders, so they are a thin sample. That fits a day when the dollar was strong and ether fell below $2,000.
What should traders watch next?
- Which chain USDPT settles on for Visa: The Block noted that no chain has been confirmed for Visa settlement yet.
- More Anchorage tokens: the framework allows other Anchorage-issued stablecoins to follow.
- Visa’s next run-rate update: whether the $20 billion figure keeps compounding.
- Stablecoin supply: a turn back up from $280 billion would signal fresh demand.
- The Fed: a December rate hike is priced in, and a strong dollar has weighed on crypto prices.
Stablecoins are reaching local players too: South Africa’s Lumepay pairs FX rails with a stablecoin venue, as covered in our piece on fintech companies in South Africa raising money this week. For more, visit our crypto and blockchain hub.
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This article is for education and information only and is not financial advice. Figures are as reported by the sources linked above.
