DUBAI - Bybit announced today that it has integrated USDPT, a US dollar-denominated stablecoin issued by Anchorage Digital Bank, N.A., making it the first major cryptocurrency exchange to join Western Union’s USDPT network, according to a press release statement.
The integration enables users to access USDPT, which operates on the Solana blockchain, through Bybit’s fiat channels. The stablecoin is redeemable 1:1 for US dollars and is backed by reserves held at Anchorage Digital Bank, N.A., a US national trust bank.
The service initially launches in selected markets across Latin America, where users can buy USDPT with supported fiat currencies or convert holdings back to local currencies. Transactions are processed through Bybit’s One-Click Buy feature for eligible users.
"Making USDPT available through a leading global exchange like Bybit is a meaningful step in extending Western Union’s network into the digital asset ecosystem," said Malcolm Clarke, Head of Digital Assets at Western Union.
Victoria Kilikyan, Deputy Head of Fiat at Bybit, stated that the integration "marks a meaningful step for crypto adoption" when an established financial institution partners with a cryptocurrency exchange.
The integration reduces transaction time from days to minutes for USDPT purchases and fiat off-ramps. Western Union (NYSE:WU) launched USDPT as part of its digital asset strategy to enable around-the-clock settlement, operating parallel to legacy settlement networks that function only on business days. The company’s stock currently trades at $7.90, near its 52-week low, with a P/E ratio of 5.77. According to InvestingPro analysis, Western Union appears undervalued at current levels and offers an 11.9% dividend yield. For deeper insights, investors can access comprehensive Pro Research Reports covering Western Union and 1,400+ other US equities, along with exclusive ProTips on InvestingPro.
Bybit, founded in 2018, serves over 80 million users globally. Western Union operates across more than 200 countries and territories in nearly 130 currencies.
USDPT is not issued, backed, approved, or guaranteed by the US government. Bybit provides a virtual asset trading platform and does not offer remittance, foreign-exchange, cash, or money transfer services.
In other recent news, Western Union Co. announced the completion of a $165 million offering of 4.750% notes due 2029. This financial move adds to the company’s existing notes of the same series and was conducted with Wells Fargo Securities, LLC as the underwriter. Additionally, Western Union declared a quarterly dividend of $0.235 per common share, payable on June 30, 2026, to shareholders of record as of June 16, 2026. The company also held its 2026 annual meeting where shareholders approved all management proposals, including the election of directors and executive compensation. In leadership developments, Pedro Alegría was appointed as Vice President and General Manager for Mexico and Central America, focusing on digital innovation and customer-centric strategies. Meanwhile, J Capital Research issued a cautious note about Western Union, highlighting competitive pressures from digital payment platforms like PayPal and Venmo. The firm expressed concerns over the company’s ability to maintain its market position amid a declining number of unbanked individuals and increased government scrutiny on cash transfers.
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