Visa and Anchorage Digital bring Western Union stablecoin to settlement network

Visa is integrating Western Union’s stablecoin (USDPT) into its global settlement network. This move allows Visa to move funds across borders using blockchain technology instead of traditional banking rails. For retailers and service providers, this marks a major shift in how transaction money flows behind the scenes. While you may still see deposits in your local currency, the backend process is becoming faster and more efficient. Traditionally, cross-border payments or settlements involve multiple banks and can take several days. By using stablecoins pegged to the US dollar, Visa can settle transactions almost instantly and around the clock. This technology reduces the friction and costs associated with international payments. For businesses that operate globally or use international suppliers, this infrastructure update could eventually lead to lower processing fees and faster access to your capital. It is a sign that major payment players are committed to moving away from legacy banking systems in favor of real-time digital assets.

Source: Finextra — Lending

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