Visa partners can now settle what they owe on VisaNet in USDPT, the Western Union stablecoin issued on Solana.
Anchorage Digital announced the arrangement with Visa on 12 November 2026 in a press release that makes USDPT the first of its stablecoins to become a native settlement asset on Visa's network. "Now, Visa and eligible partners have the option to use USDPT to settle their VisaNet obligations," the release says. The Block reported the same terms the same day.
For Western Union, the deal gives USDPT a job inside a card network's back office, on top of the exchange listings and payout routes it has gathered since it launched on Solana in May 2026.
How Visa settlement in USDPT works
VisaNet obligations are the sums that card-issuing banks and merchant banks owe Visa, or are owed by it, once the network has cleared a day's card payments. Under the new arrangement, Visa and eligible partners can pay those sums in USDPT instead of moving dollars between bank accounts. Anchorage Digital Bank, N.A., a federally chartered bank, issues the token.
That bank charter is the case both companies make for the deal. Anchorage Digital chief executive Nathan McCauley said in the release that "speed alone won't bring institutions onchain" and that they "need a regulated institution behind the money."
Dan Roesbery, Visa's vice president for global crypto partnerships, framed it as choice for Visa's partners: "As stablecoin payments grow, we're focused on providing more choice for our partners in how they settle with Visa. Supporting USDPT as a native settlement asset, in partnership with Anchorage, gives them another trusted, institution-grade option backed by a federally chartered bank."
USDPT is the first coin through the door, and Anchorage says the partnership sets up a way "to explore support for additional stablecoins after the initial launch." The bank issues six in total: USAT for Tether, USDPT for Western Union, USDGO for OSL Group, USDtb for Ethena Labs, fUSD for Falcon Finance and ZLUSD for Zelle. Neither company has named the next one or given a date.
Where Solana fits in the USDPT settlement deal
USDPT was issued on Solana when it launched in May 2026, with Fireblocks supplying wallet and settlement infrastructure alongside Anchorage Digital Bank, according to The Block. Neither the Anchorage release nor Visa says which blockchain the VisaNet settlement transfers use, so the Solana link here runs through the asset itself: Visa has accepted a dollar token that, as far as anyone has reported, exists only on Solana.
Visa already settles on Solana in another coin. When Visa opened USDC settlement to US banks in December 2025, Cross River Bank and Lead Bank began settling with Visa in USDC on the Solana blockchain, Cointelegraph reported. The Block lists Monad, Canton, Base and Tempo among networks Visa has added to its settlement options, so Solana is one of several chains in Visa's stablecoin plumbing.
USDPT supply and holders on Solana
USDPT is still small. Our token data shows a supply of about 18.9 million USDPT held by more than 600 holders on Solana as of 12 November 2026. Visa's stablecoin settlement reached an annualized run rate of $20 billion in September 2026, more than 15 times its level a year earlier, according to The Block.
USDPT has picked up uses on Solana through 2026. In August, Western Union and Rain launched Stablecard, a USDPT-backed Visa card, in 37 markets. In October, Bitso listed USDPT in Mexico, and Western Union picked Noah to pay remittances into Stablecard as USDPT. Stablecard already lets holders spend USDPT where Visa is accepted; this deal puts the same token on the settlement side of Visa's network.
What to watch for USDPT on VisaNet
The next things to watch are which card issuers and merchant banks settle in USDPT first, how much value moves that way, which blockchain those settlement transfers use, and which of Anchorage's other five stablecoins Visa adds next.
