Crypto exchange Bybit has added support for Western Union’s USDPT stablecoin, bringing the payments giant’s digital dollar onto a major crypto trading venue for the first time.
The integration, announced on June 4, 2026, enables users to hold, trade, and transfer USDPT on the Bybit platform. “Bybit said it is the first major cryptocurrency exchange to support USDPT,” according to the announcement.
USDPT is a US dollar-pegged stablecoin issued by Western Union Digital and backed by reserves held at Anchorage Digital Bank. The stablecoin launched in May 2026 on the Solana blockchain. Western Union designed USDPT to align with the US GENIUS Act framework for payment stablecoins, a regulatory structure intended to govern digital dollar products issued by non-bank payment companies.
The move reflects broader momentum among legacy payments firms to enter the stablecoin market. MoneyGram launched MGUSD earlier in June 2026 on the Stellar network. Mastercard expanded support for USDC, PYUSD, and RLUSD with expanded settlement capabilities, also announced in early June. Visa’s stablecoin settlement pilot reached a $7 billion annualized transaction run rate as of April 2026.
Dollar-pegged stablecoins now represent one of the fastest-growing segments of the digital asset market. According to DeFiLlama, the total value of dollar-pegged stablecoins stands at $320 billion. The World Bank has noted that digital transfer methods can reduce costs compared with traditional cross-border payment channels, using a $200 benchmark remittance amount for cost comparison.
Western Union, founded in 1851, has historically dominated cross-border payments. The integration of USDPT into Bybit’s infrastructure signals the company’s pivot toward blockchain-based settlement and digital asset infrastructure as competition intensifies in the payments sector.
What happens next
Bybit did not specify a technical implementation timeline or whether USDPT will expand to blockchains beyond Solana. The exchange also did not disclose expected transaction volume or user adoption projections from the integration.
