Visa has partnered with Anchorage Digital to let Visa and eligible partners settle obligations on VisaNet using USDPT, Western Union’s dollar-backed stablecoin issued by Anchorage Digital Bank. USDPT is the first Anchorage-issued stablecoin supported under the collaboration, which also establishes a framework to consider additional Anchorage-issued tokens. Western Union launched USDPT on Solana on May 4, and the token is backed by U.S. dollar reserves and redeemable one-to-one. The arrangement extends USDPT’s planned uses from treasury and agent settlement to Visa network obligations, while Anchorage positions itself as a settlement bank providing stablecoin issuance, custody and institutional infrastructure. Visa’s stablecoin settlement business has surpassed a $25 billion annualized run rate, up tenfold from a year earlier, across 10 blockchains and all five geographic regions. Western Union already offers a USDPT-backed Visa card through Rain, with Stablecard available in 37 markets and an announced target of more than 60 markets by year-end.