Visa partners get the option to settle in Western Union's USDPT, Anchorage says

A remittance company's stablecoin is now an option for settling up on Visa's network.

Anchorage Digital said Nov. 12 that it is working with Visa to support select stablecoins issued by Anchorage Digital Bank as native settlement assets on the Visa network, starting with Western Union's USDPT. Visa and eligible partners now have the option to use USDPT to settle their VisaNet obligations.

That's per Anchorage's release (opens in a new tab), which says Anchorage is "collaborating with Visa to support" the stablecoins. USDPT, which Western Union launched on Solana in May, is the first Anchorage-issued stablecoin supported, and the deal "creates a framework to explore support for additional stablecoins." Exploring, not promising.

What else does Anchorage issue?

Anchorage Digital Bank already issues a handful, according to the release: USAT (Tether), USDPT (Western Union), USDGO (OSL Group), USDtb (Ethena Labs) and fUSD (Falcon Finance). Only USDPT is supported for Visa settlement so far.

Nathan McCauley, Co-Founder and CEO of Anchorage Digital, framed the pitch as speed plus a bank: "They need a regulated institution behind the money."

Dan Roesbery, Vice President, Global Crypto Partnerships & GTM, Visa, said the aim is "providing more choice for our partners in how they settle with Visa."

One relationship to keep in view: Visa is among Anchorage Digital's investors, according to the release.

Where does Solana come in?

Through the token. Western Union launched USDPT (opens in a new tab) on May 4, built on Solana and issued by Anchorage Digital Bank N.A. The Nov. 12 release doesn't say where Visa settlement happens.

Why this matters

It adds a remittance company's stablecoin to the assets Visa partners can use to settle VisaNet obligations. Anchorage did not disclose any settlement volume. The release says partners "have the option," not that any settlement has occurred.