Visa has added support for an Anchorage-issued stablecoin to settle obligations on VisaNet, beginning with Western Union’s USDPT. The companies said Visa and eligible counterparties can now use the dollar-pegged token for settlement on the network.

The arrangement makes USDPT the first token issued by Anchorage Digital Bank to be approved for that role. Anchorage and Visa said the setup also creates a framework that could later bring additional Anchorage-issued stablecoins into the same settlement flow.

USDPT becomes the first Anchorage token for VisaNet settlement

The announcement marks an expansion of Anchorage Digital’s stablecoin business into one of the largest payments networks. Under the new arrangement, USDPT can be used to settle obligations tied to VisaNet by Visa and qualifying companies.

USDPT is issued and custodied by Anchorage Digital Bank and is designed to maintain a one-to-one peg with the U.S. dollar. The companies presented the launch as the first step in a broader integration rather than a one-off listing.

Anchorage ties stablecoin speed to bank regulation

Anchorage has argued that institutional adoption depends on more than faster digital payments. Co-founder and CEO Nathan McCauley said institutions want the efficiency associated with stablecoins, but also want the money to sit behind a regulated institution.

That point is central to Anchorage’s pitch. The company says it operates the first federally chartered crypto bank in the United States, with oversight from the Office of the Comptroller of the Currency. In Anchorage’s view, combining a stablecoin with a federally regulated bank structure is what makes the product usable at institutional scale.

Visa continues to expand stablecoin settlement infrastructure

The move adds to Visa’s broader effort to incorporate stablecoins into its payment and settlement systems. The company has already built a stablecoin settlement program across networks including Base and Polygon, and it has introduced a platform aimed at helping banks and fintech firms issue and transfer stablecoins.

Visa has also expanded into onchain lending connected to its card business. Dan Roesbery, a vice president for crypto partnerships at Visa, said support for USDPT gives partners another institution-focused option for settling with the network.

Part of a wider push for institutional stablecoin rails

For Anchorage, the Visa tie-up fits a larger strategy to serve as settlement infrastructure for institutional stablecoins. That ambition goes beyond issuance and includes custody and the payment rails needed to move and settle tokenized dollars.

The bank already issues several institution-oriented stablecoins, including Tether’s U.S.-regulated USAT, Western Union’s USDPT and Ethena’s USDtb, which the company says are redeemable one-for-one for dollars. Anchorage also operates its Atlas counterparty settlement network for off-exchange settlement, collateral management and cross-border transfers.

Next step could be more Anchorage-issued tokens on Visa

The companies said additional Anchorage-issued stablecoins may be added after the initial USDPT rollout. No timeline or list of future tokens was announced, but the framework established through this launch is intended to support further expansion.

For now, the confirmed change is that USDPT can be used by Visa and eligible firms to settle on VisaNet, giving Anchorage its first approved token in Visa’s settlement system.

Source: decrypt.co