Visa and Anchorage Digital have reached an agreement allowing Visa and eligible partners to use USDPT to settle their obligations on VisaNet. Issued by the federally chartered bank Anchorage, the Solana-based stablecoin is backed one-to-one by US dollar reserves and is redeemable for one dollar. Western Union operates more than 550,000 locations in over 200 countries and plans to use USDPT to streamline treasury operations and reduce idle capital. The initiative is part of a stablecoin settlement program that Visa says has reached an annualized volume of approximately $20 billion to $25 billion, and the company is considering adding other Anchorage-issued stablecoins.
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