Anchorage Digital, the federally chartered crypto bank in the U.S., announced a partnership with Western Union (NYSE: WU) to launch USDPT stablecoin on Solana, designed to bring faster, economical payments to consumers around the world. This collab represents a step forward for the adoption of digital dollars.
Anchorage Digital Bank, as the federally regulated issuer, will mint and redeem the U.S. Dollar Payment Token (USDPT) under “U.S. federal oversight.” The stablecoin will operate on Solana’s blockchain and be integrated into The Western Union Company’s network of 550,000+ agent locations across more than 150 countries.
Nathan McCauley, Co-founder & CEO, Anchorage Digital said that their platform is built to issue stablecoins at scale. By teaming up with Western Union and building on Solana, they’re demonstrating how regulated stablecoins can “power faster, cheaper, and more inclusive money movements globally.”
This partnership shows that product development and compliance can go hand in hand—and that’s “the future of money movement.”
The stablecoin leverages Anchorage Digital Bank’s stablecoin issuance platform, providing issuance, custody, settlement, and treasury management.
As home to the U.S. bank able to issue a regulated stablecoin, Anchorage Digital is positioned to help institutions navigate the digital payments ecosystem.
Solana’s blockchain infrastructure underpins the stablecoin, “ensuring high throughput, low cost, and instant settlement.”
This launch underscores Anchorage Digital’s ongoing role in the stablecoin ecosystem and its mission to make “regulated digital dollars” accessible at scale.
By combining Anchorage Digital Bank’s federally regulated issuance, Solana’s blockchain, and Western Union’s reach, this initiative is setting a “standard for the future of payments.”
In another update, it was noted that Anchorage Digital is focused on advancing institutional participation in DeFi by now supporting SharpLink Gaming, Inc. (Nasdaq: SBET), one of the corporate holders of Ethereum, as it embarks on a treasury strategy.
SharpLink plans to deploy $200M in ETH onto Linea, a zkEVM L2 network bootstrapped by Consensys, in a “phased, risk-managed approach to access onchain yield.”
As SharpLink’s custodian, Anchorage Digital Bank is providing the custody infrastructure for this allocation, underscoring a key trend: the institutional adoption of L2 solutions and DeFi, paired with “non-negotiable requirements for institutional-grade security and regulatory compliance.”
SharpLink’s strategy is designed to optimize its Ethereum holdings by unlocking “scalable, secure, and composable ways to generate onchain yield through the Linea network.”