Visa is expanding the use of stablecoins within traditional payment infrastructure. On November 12, 2026, Anchorage Digital announced a collaboration involving Visa and eligible partners that allows settlement of certain VisaNet obligations using Western Union's USDPT stablecoin.
USDPT was introduced by Western Union and is issued with support from Anchorage Digital Bank. The arrangement brings stablecoins into the settlement layer of a traditional payment network rather than limiting their use to transfers between crypto exchanges and digital asset wallets.
How Will USDPT Be Used for VisaNet Settlement?
According to the public announcement, Visa and eligible partners can use Western Union's USDPT to settle certain obligations associated with VisaNet. USDPT is a dollar-linked stablecoin issued by Anchorage Digital Bank.
Traditional card payments typically involve settlement between multiple financial institutions. Stablecoins offer another method of moving value through blockchain infrastructure, potentially providing payment participants with an alternative to conventional bank transfers.
However, stablecoin settlement does not mean that all consumer card transactions are being converted into on-chain payments. The arrangement concerns settlement between eligible institutional participants within VisaNet, with the precise scope and operating procedures determined by the partnership.
Why Are Stablecoins Entering Traditional Payment Infrastructure?
Stablecoins can move across supported blockchain networks without being fully dependent on conventional banking hours. This may provide greater flexibility for certain cross-border fund movements and settlement processes.
For a global payment network such as Visa, stablecoin settlement can complement existing financial infrastructure rather than necessarily replace card networks, bank accounts, or traditional clearing systems.
Nevertheless, stablecoin payments still involve issuer credit risk, reserve transparency, redemption arrangements, blockchain network reliability, and regulatory requirements across jurisdictions. Businesses must also assess transaction fees, liquidity, and settlement finality.
What AML and KYT Controls Are Needed for Stablecoin Settlement?
As stablecoins become part of traditional payment networks, counterparty identification, source-of-funds checks, and sanctions screening remain essential. Institutions cannot disregard applicable AML and financial crime prevention obligations simply because a transaction is settled in a stablecoin.
KYT tools can help payment providers trace wallet addresses, identify unusual fund paths, and detect transactions associated with scams, sanctions exposure, or other high-risk activity. Blockchain analytics should be integrated with customer due diligence, transaction monitoring, and statutory reporting procedures.
Payment providers also need clear procedures for transaction recordkeeping, suspicious activity handling, asset restrictions, and dispute resolution. The Visa-related collaboration demonstrates that stablecoins are increasingly being integrated into traditional financial infrastructure. Whether this model can scale will depend on balancing operational efficiency, regulatory compliance, and risk management.