Bybit Exchange Adds Western Union’s USDPT Stablecoin

Bybit cryptocurrency exchange has integrated the USDPT stablecoin issued by Western Union into its platform. This move marks the first time the payment giant’s digital dollar has been listed on a major crypto trading venue. According to an announcement made on Thursday, the USDPT, pegged to the US dollar, is now available for storage, trading, and transfers for Bybit users. Cointelegraph.com reports .

This partnership extends the scope of USDPT beyond simple payments, integrating it into the crypto-trading ecosystem. Bybit became the first major exchange to support this asset. Western Union launched the USDPT stablecoin on the Solana blockchain in May of this year as part of its digital assets strategy.

Issued by Western Union Digital, this stablecoin is backed by reserves held at Anchorage Digital Bank. Company representatives state that the asset fully complies with the requirements of the US GENIUS Act legislation. This ensures adherence to established federal regulatory standards for payment stablecoins.

Currently, the stablecoin market remains one of the fastest-growing segments in the digital assets sector. According to DeFiLlama data, the total value of dollar-pegged stablecoins has reached nearly $320 billion. Alongside Western Union, major financial institutions such as MoneyGram, Mastercard, and Visa are actively entering this market.

Specifically, MoneyGram recently launched the MGUSD stablecoin on the Stellar network, while Mastercard is expanding support for assets like USDC, PYUSD, and RLUSD in its settlement systems. Visa announced that the volume of transactions conducted via stablecoins has reached $7 billion annually.