The VisaNet settlement system has officially begun processing crypto assets issued by a federally chartered bank. Visa added Western Union’s USDPT stablecoin to its settlement network through a partnership with Anchorage Digital Bank. Through this move, USDPT becomes the first stablecoin issued by a federally licensed US custodian bank to be directly accepted as a native settlement asset on Visa’s network.
The USDPT token runs on the Solana blockchain and is backed 1:1 by US dollar reserves under the supervision of the Office of the Comptroller of the Currency (OCC). The addition of this asset is not merely another payment instrument, but a direct shift in the liquidity mechanics behind cross-border remittances.
Sending Cross-Border Funds Without Prefunded Accounts
Conventional cross-border remittance models require corporations like Western Union to deposit advance capital, or prefunded accounts, across a network of local correspondent banks in each destination country. That legacy model ties up substantial liquidity and leaves transaction settlement dependent on local banking operating hours. The arrival of USDPT eliminates that bottleneck: Western Union and Visa’s business partners can now settle transaction obligations 24/7 without needing to tie up prefunded capital in local banks.
Regulatory clarity remains a primary consideration for financial institutions looking to move funds onto blockchain rails. Visa Vice President of Global Crypto Partnerships Dan Roesbery stated that supporting USDPT provides a trusted new institutional settlement option for partners. From the issuer’s side, Anchorage Digital CEO Nathan McCauley emphasized that financial institutions require certainty from an officially regulated banking institution to safeguard fund movements on the blockchain.
Settlement Pace Surges Tenfold
Stablecoin adoption across Visa’s network has shown sharp growth this year. As of late October 2026, Visa’s annualized stablecoin settlement volume surpassed $25 billion - a tenfold increase compared to the previous year. The scale of Visa’s digital asset program now spans ten blockchain networks across five global regions, supporting over 225 stablecoin-linked card programs with five million cards in circulation across 50 countries.
Western Union’s collaboration in the crypto space complements consumer products launched earlier. In August 2026, Western Union and Rain rolled out the Stablecard, linking customers’ USDPT balances to Visa debit cards across 37 global markets. The payment card connects directly to Apple Pay and Google Pay, enabling cardholders to spend funds at conventional retail merchants.
For remittance networks and global business partners, 24/7 transaction settlement on a licensed blockchain provides an immediate impact: the requirement to maintain prefunded capital across various countries can now be eliminated.
Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
