Bybit joins Western Union’s new USDPT network as stablecoin expands distribution
Bybit has become the first major crypto exchange to support Western Union’s USD-pegged stablecoin, USDPT, enabling holding, trading, and transfers on the platform. USDPT, launched in May, is issued by Western Union Digital, backed by reserves at Anchorage Digital Bank, and initially runs on Solana. The listing pushes Western Union’s stablecoin beyond payments into crypto trading and broadens Bybit’s dollar stablecoin options. The move fits a larger trend: payments firms are rapidly expanding into stablecoins for trading and settlement use. MoneyGram recently launched MGUSD on Stellar, while Mastercard and Visa are increasing stablecoin settlement support. Stablecoins now total nearly $320 billion, and policymakers are weighing their role in cheaper cross-border payments.
