Anchorage's USDPT stablecoin joins Visa's settlement network

Anchorage Digital is plugging its stablecoins straight into Visa's rails. Under a deal announced Thursday, select Anchorage-issued tokens can now settle transactions directly on VisaNet — the network behind Visa's global payments — with Western Union's USDPT up first.

That makes USDPT the first Anchorage-issued token cleared for settlement on Visa's network. Visa and eligible companies can use the dollar-pegged stablecoin, issued and custodied by Anchorage Digital Bank, to square their obligations with Visa. The two companies said the arrangement sets up a framework to fold in more Anchorage stablecoins down the line.

Anchorage is selling the combo of stablecoin speed and bank-grade oversight. It runs what it calls America's first federally chartered crypto bank, supervised by the Office of the Comptroller of the Currency. CEO and co-founder Nathan McCauley said speed on its own won't pull institutions onchain, arguing they want a regulated institution behind the money — and now they get both.

Visa's crypto partnerships VP Dan Roesbery pitched the USDPT support as handing partners another trusted, institution-grade option for settling with Visa. The card giant has been steadily threading stablecoins through its plumbing: a settlement program spanning networks including Base and Polygon, a platform for banks and fintechs to issue and move stablecoins, and onchain lending tied to its cards.

For Anchorage, the Visa hook extends a push to be the settlement bank for stablecoins at institutional scale, not just the issuer. Its roster already includes Tether's U.S.-regulated USAT, Western Union's USDPT, Ethena's USDtb and other tokens redeemable one-to-one for dollars, plus Atlas, its counterparty network for off-exchange settlement, collateral management and cross-border transfers.

Anchorage has also been custodying tokens on both sides of the U.S.-Mexico remittance corridor. Settling on VisaNet, which reaches merchants and banks worldwide, stretches that footprint deeper into everyday payments.