US federally chartered crypto bank Anchorage Digital announced that Visa and eligible partners can now settle obligations on VisaNet using USDPT, the stablecoin it issues for Western Union. USDPT is the first Anchorage-issued token to receive this status on Visa’s network, and the companies are developing a framework to assess further additions.

Under the agreement, USDPT functions as a native settlement asset on VisaNet, which means Visa and eligible partners can use the token directly to settle obligations. The framework being developed by the two companies would allow them to evaluate other stablecoins issued by Anchorage Digital’s bank for inclusion in the network.

A company official at Anchorage Digital said that faster…