As part of its partnership with Anchorage Digital, Visa will support Western Union’s dollar-pegged USDPT token for settling payment obligations on VisaNet.
According to a statement reported by The Block, Visa and eligible partners will be able to settle payment obligations arising through VisaNet with USDPT. The agreement also paves the way for other stablecoins issued by Anchorage Digital Bank to be added to the network in the future.
What will Western Union’s stablecoin do on the Visa network?
USDPT will not be used as a payment option for cardholders at checkout, but to settle debts between institutions after transactions. The token launched on Solana in May. Western Union plans to use USDPT, which it initially rolled out in the Philippines and Bolivia, for continuous settlement across its network spanning more than 200 countries.
Visa said in September that its stablecoin settlement volume had reached $20 billion on an annualized basis. That was more than 15 times the level a year earlier.
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