Visa and Anchorage Digital have reached an agreement allowing eligible companies to settle their obligations on VisaNet using USDPT, a stablecoin issued and custodied by Anchorage Digital Bank. The initial launch covers Western Union’s token, and the partners said a framework will enable more Anchorage-issued stablecoins to be added later. Anchorage is highlighting the combination of stablecoin speed with the backing of a federally regulated bank, which it says will encourage institutions to move onchain. For Anchorage, the deal advances its strategy of becoming the institutional settlement bank for stablecoins, spanning issuance, custody and cross-border transfer infrastructure. It also extends stablecoins’ presence in Visa’s mainstream payment network following rollouts on Base and Polygon and the development of a settlement program and issuance platform.
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