TL;DR:
- Bybit became the first major exchange to integrate USDPT, the dollar stablecoin launched by Western Union in May 2026.
- The token is backed by reserves at Anchorage Digital Bank, runs on Solana and is aligned with the U.S. GENIUS Act regulatory framework.
- Mastercard, Visa, MoneyGram and other payment companies are accelerating their adoption of dollar-pegged stablecoins.
Bybit became the first major exchange to list USDPT, the U.S. dollar stablecoin developed by Western Union, as both companies announced. The token is already available on Bybit for holding, trading and transfers, marking the debut of the payments giant’s stablecoin in the crypto market on an international scale.
USDPT was launched in May 2026 by Western Union Digital and is backed by reserves held in custody at Anchorage Digital Bank. It runs on the Solana blockchain and was designed to align with the GENIUS Act framework, the U.S. federal legislation that established regulatory standards for payment stablecoins. Western Union, founded in 1851 as a telegraph company, presented this product as part of its digital assets strategy.
Today we launch Western Union’s @USDPT_ across @Bybit_Official's fiat channels in Latin America, with a clear path to expand globally. To learn more, read the following article: https://t.co/z05omclduV
Follow more updates about Western Union's USDPT, follow @USDPT_ pic.twitter.com/ibpwoBLgzm
— Western Union (@WesternUnion) June 4, 2026
Bybit Opens the Gates of a $320 Billion Market to Western Union
The integration with Bybit extends USDPT’s reach beyond the traditional payments ecosystem and introduces it into crypto trading markets, where liquidity is considerably higher. According to DeFiLlama data, the total value of dollar-pegged stablecoins reached nearly $320 billion, confirming that this market continues to expand even during periods of broad weakness in crypto asset prices, such as Bitcoin, which fell to $64,000 in the latest session.
The Silent Expansion of the Digital Dollar
Western Union is not the only financial institution that accelerated its entry into the stablecoin market in recent weeks. MoneyGram launched MGUSD on the Stellar network in early June, targeting cross-border payments. Mastercard announced support for USDC, PayPal USD and Ripple USD, providing extended settlement capabilities for issuers and acquirers. Meanwhile, Visa reported in April that its stablecoin settlement pilot reached an annualized rate of $7 billion in transactions.
The World Bank noted that traditional remittance channels remain costly and limit financial accessibility in developing economies, a problem that stablecoin-based transfers could mitigate with greater efficiency and lower operational friction.
