Bybit, the world's second-largest cryptocurrency exchange by trading volume, has recently announced its official integration of the USDPT dollar-pegged stablecoin issued by Anchorage Digital Bank. This move makes Bybit the first major cryptocurrency exchange to join Western Union's global USDPT network.
The USDPT stablecoin operates on the Solana blockchain, is pegged 1:1 to the US dollar, and is redeemable. Its reserve assets are held by Anchorage Digital Bank, a US-based national trust bank. Through this integration, eligible users can utilize Bybit's "One-Click Buy" feature to purchase USDPT using supported fiat currencies or convert it back into local currency. This service will initially launch in select markets across Latin America.
Malcolm Clarke, Head of Digital Assets at Western Union, stated: "Offering USDPT through a leading global exchange like Bybit is a significant step in extending the Western Union network into the digital asset ecosystem." Victoria Kilikyan, Deputy Head of Fiat Business at Bybit, noted that when a traditional financial institution partners with a major crypto exchange, it demonstrates growing recognition of crypto assets' potential as payment infrastructure.
This integration reduces the transaction time for purchasing USDPT and withdrawing to fiat currency from several days down to just minutes. USDPT is a core component of Western Union's digital asset strategy, aiming to establish a 24/7 settlement layer that operates in parallel with the traditional SWIFT network, which only functions on weekdays, enabling real-time settlement around the clock.
Western Union had previously indicated in its Q1 2026 financial report that the company is building a three-pillar strategy around USDPT, encompassing a digital asset network and a "stable card." The issuance of USDPT signals that this 175-year-old remittance giant is accelerating its transformation into the digital asset space.
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