Home
Cryptocurrency
Cryptocurrency News
Bybit Lists Western Union’s USDPT Stablecoin for Trading and Transfers

Bybit Lists Western Union’s USDPT Stablecoin for Trading and Transfers

USDPT becomes available for trading, transfers, and holdings on Bybit.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 5 June 2026 17:20 IST

Bybit Lists Western Union’s USDPT Stablecoin for Trading and Transfers

Photo Credit: Unsplash/appshunter.io

USDPT expands beyond payments with integration on the Bybit exchange

Click Here to Add Gadgets360 As A Trusted Source

Highlights

USDPT is backed by reserves held at Anchorage Digital
Stablecoin was originally launched on the Solana blockchain
Dollar-pegged stablecoins now exceed $320 billion in value

The Dubai-based crypto exchange Bybit has shown extended support for Western Union's USDPT stablecoin, a decision that brings the payments titan's digital dollar trading on a leading crypto platform for the first time. The announcement made by the company says that Western Union's US dollar-pegged stablecoin, USDPT, is now available on Bybit for holding, trading, and transferring of funds. The integration grows USDPT beyond payments and into crypto trading, and increases the diversity of dollar-denominated stablecoins available to Bybit users.

Western Union Joins Growing List of Firms Entering Stablecoins

As this move comes into play, Western Union becomes a part of a growing list of financial institutions and payments companies entering the stablecoin market. In May, Western Union launched USDPT as part of its broader digital asset strategy. The stablecoin is distributed by Western Union Digital and is backed by reserves held at Anchorage Digital Bank. USDPT was originally launched on the Solana blockchain. Stablecoins continue to remain one of the fastest-growing sectors of the digital asset market despite the downfall in crypto prices. As per the data by DeFiLlama, the total value of dollar-pegged stablecoin has reached over $320 billion (roughly Rs. 30,39,680 crore).

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

The global payment service MoneyGram had also launched its own US dollar-pegged stablecoin, MGUSD, on the Stellar network as part of its broader push into blockchain-based payments and cross-border transfers. Meanwhile, Mastercard also announced on Friday that it is expanding its support for several stablecoins, which include USDC (USDC), PayPal USD (PYUSD), and Ripple USD (RLUSD), as the payment powerhouse goes all-in on digital asset settlement.

In April, Banking Circle announced the launch of its stablecoin settlement services after successfully receiving a Crypto Asset Service Provider (CASP) licence from Luxembourg's financial regulator. The new offering will expand into providing fiat-to-stablecoin and stablecoin-to-fiat settlements for institutional investors. The solution fixes long-standing problems with traditional global settlement rails by combining the 24/7 availability of blockchain-based payments with the compliance, security, and risk management standards of a regulated bank.

Israel is another country that has embraced the shekel-pegged stablecoins by the virtual exchange Bits of Gold. The virtual exchange holds a license to engage in virtual currencies after a comprehensive examination process and a dedicated pilot that lasted about two years. This offering will take place in a limited scope. The regulator also clarified that approval is given to the BILS stablecoin after a two-year pilot program of the stablecoin on the Solana blockchain.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Crypto Markets, Crypto News, Western Union, Stablecoin

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More