Visa (V) Stock: Western Union’s USDPT Stablecoin Joins VisaNet Settlement

TLDR

• Visa and eligible partners can now settle VisaNet obligations with Western Union’s USDPT.
• Anchorage Digital Bank issues the token, which is the first covered by the deal.
• The companies set up a framework to consider more Anchorage-issued stablecoins.
• Visa’s annualized stablecoin settlement run rate hit $20 billion in September.
• Total stablecoin supply has slipped to about $280 billion from $300 billion in March.

Visa (V) is giving its partners a new way to settle up. Western Union’s USDPT stablecoin is now a settlement asset on VisaNet.

Visa Inc., V

Anchorage Digital announced the tie-up this week. The bank issues USDPT, and it is the first token covered by the deal.

Visa and eligible partners can use USDPT to settle VisaNet obligations. The companies also built a framework to consider more Anchorage-issued stablecoins.

LATEST: ⚡ Visa is adding Western Union’s USDPT stablecoin as a native settlement asset on its network through Anchorage Digital, which issues the token via its federally chartered bank. pic.twitter.com/RuAH8U25vl

— CoinMarketCap (@CoinMarketCap) November 13, 2026

No timeline has been given for adding other tokens. The companies also have not shared expected USDPT settlement volumes or how many partners qualify.

Anchorage CEO Nathan McCauley said speed alone will not bring institutions onchain. In his view, they want a regulated institution standing behind the money.

Anchorage says the deal fits its push to become a settlement bank for stablecoins. That would stretch its business past issuance and into custody and settlement for institutions.

Where USDPT Came From

Western Union (WU) launched USDPT in May on Solana. Anchorage Digital Bank handles issuance, while Fireblocks supplies the wallet and settlement infrastructure.

The token first rolled out in the Philippines and Bolivia. Western Union plans to use it for round-the-clock settlement across more than 200 countries.

Western Union also launched Stablecard, which lets customers hold USDPT and spend it through Visa channels. It started in 37 markets and is set to grow to more than 60.

USDPT is not Anchorage’s only stablecoin job. The bank also issues tokens for Tether, OSL Group, Ethena Labs, Falcon Finance and Zelle.

Anchorage was valued at more than $3 billion in a $350 million Series D round in 2021. This year it added onchain lending through Spark and custody-based collateral management.

Visa’s Stablecoin Push Meets a Smaller Market

Visa said in September that its annualized stablecoin settlement run rate reached $20 billion. That is more than 15 times the year-earlier figure.

The company has added Monad, Canton, Base and Tempo to its settlement networks. In October, it also launched USDC prefunding for Visa Direct payments.

The news lands as the overall stablecoin supply shrinks. The Block’s data dashboard shows it near $280 billion, down from $300 billion in March.

Tether’s USDT leads the sector with $177 billion. Circle’s USDC follows at around $70 billion.

Anchorage and Visa announced the arrangement on November 12. USDPT is the only token live so far, and other Anchorage-issued stablecoins will be reviewed under the new framework.