Western Union’s USDPT stablecoin is now listed on the cryptocurrency exchange Bybit. The integration, confirmed on Thursday, allows users to hold, trade, and transfer the token, which is pegged to the U.S. dollar and initially launched on the Solana blockchain. This move expands the use case for the stablecoin beyond payments as major financial firms like Mastercard, Visa, and MoneyGram advance their own stablecoin initiatives.
The USDPT stablecoin has entered a major trading venue after Bybit added support for holding, trading, and transferring the asset. The companies confirmed the integration on Thursday, with Bybit stating it is the first major crypto exchange to support USDPT.
Western Union initially launched the dollar-pegged token in May through its digital division. The company stated the product was designed to align with the U.S. GENIUS Act framework for stablecoin regulation.
The listing follows increased activity from other payment giants in the stablecoin sector. MoneyGram has recently released its own MGUSD protocol for blockchain payments and cross-border transfers.
Mastercard has added support for several stablecoins, including USDC and PayPal USD, for settlement alternatives. Separately, Visa reported its pilot achieved a $7 billion annual transaction run rate in April, highlighting increased testing of blockchain settlement rails.
According to DeFiLlama data, the total market value of dollar-pegged stablecoins has reached nearly $320 billion. The USDPT stablecoin is part of this broader trend, with reserves held at Anchorage Digital Bank.
