Visa adds Western Union's USDPT stablecoin to VisaNet

Visa has added another stablecoin to the list of assets that can settle on its network. The token is Western Union's USDPT, and the issuer is a federally chartered bank. Our on-chain counts show where that sits among the dollar stablecoins we track.

What did Visa and Anchorage announce?

Anchorage Digital said on Thursday, November 12, 2026, that Visa and eligible partners can settle obligations on VisaNet using USDPT, which Anchorage issues. It is the first Anchorage-issued token to get that status, and the companies are building a framework to consider more.

No further assets or rollout dates were announced. USDPT is a U.S. dollar stablecoin issued by Anchorage Digital Bank on Solana. Western Union introduced it to support treasury management, cross-border transfers and settlement across its payment network.

USDPT launched in May on Solana, with Anchorage handling issuance and Fireblocks providing the wallet and settlement infrastructure. Western Union first rolled it out in the Philippines and Bolivia.

Who else issues stablecoins through Anchorage?

Anchorage is an issuer for other brands too. It has issued stablecoins for Tether, OSL Group, Ethena Labs, Falcon Finance and Zelle. It describes the Visa tie-up as part of a goal to become a settlement bank for stablecoins, moving beyond issuance into custody and settlement for institutions.

The Visa framework covers tokens issued by Anchorage's bank, so that list is the pool the companies could draw from. For how bank-issued money differs from stablecoins, see tokenized deposits vs stablecoins.

Is USDPT part of our stablecoin count?

No. We count cash-backed dollar stablecoins read directly from public blockchains. As of November 13, 2026, that is $252.78 billion across 6 stablecoins from 5 issuers, read from 18 blockchains. USDPT is not one of those 6. Counts are updated every 6 hours, and we count only addresses the issuer publishes or confirms in writing.

The full list is on our stablecoin count and the stablecoin list. For the method, see how we count.

Which stablecoins does Visa already settle in?

One industry site, Stablecoin Insider, reports that Visa had named USDC, USDG, EURC, PYUSD and SBC for settlement before this deal. It says USDPT is "the sixth stablecoin named for Visa settlement and the first issued by Anchorage Digital Bank." Three of those, USDC, USDG and PYUSD, are in our count.

Visa has said its settlement business is growing. In September, the company reported that its stablecoin settlement volume had surpassed a $20 billion annualized run rate, up more than 15 times from a year earlier. That is Visa's own payments figure. It is not the same measure as our on-chain market cap.

Our own figures moved the other way this week. Our stablecoin count changed by -$3.90 billion (-1.5%) over 7 days, from $256.67 billion as of November 13, 2026. Wider totals differ from ours because they include more token types. One report puts total stablecoin supply at about $280 billion, down from $300 billion in March. We leave out crypto-backed dollars and bridged copies, so no dollar is counted twice. For our full view, see cash-backed stablecoins on-chain.

Where does Solana fit?

USDPT is reported to exist on Solana. Solana Compass notes that neither Anchorage nor Visa has said which blockchain the VisaNet settlement transfers use. So the link to Solana runs through the token, not through a stated settlement route.

In our count, Solana holds $11.54 billion of cash-backed dollar stablecoins as of November 13, 2026. That is 4.6% of the total. Ethereum holds $129.14 billion (51.1%) and Tron holds $92.09 billion (36.4%). USDC on Solana is $7.13 billion, and Paxos's PYUSD on Solana is $747.1 million.

Visa partners already use USDC on several blockchains. For another bank-side example, see PNC adding USDC payments.

What to watch

• Which blockchain carries settlement. Neither company has said which one VisaNet uses for USDPT.
• Which partners settle first. The announcement says "eligible partners" without naming them.
• More Anchorage tokens. The framework allows others, but no names or dates are public.
• Our count. We will update our stablecoin count if USDPT's issuer-published addresses meet our rules.