Bybit lists Western Union’s USDPT stablecoin

Bybit and Western Union announced Thursday that the USDPT stablecoin is now available on Bybit for holding, trading and transfers, the token’s first appearance on a major crypto trading venue.

Western Union launched USDPT in May through its Western Union Digital unit and initially issued the token on the Solana blockchain. The stablecoin is backed by reserves held at Anchorage Digital Bank and was designed to meet regulatory standards set out in the GENIUS Act.

Bybit confirmed customers can hold, trade and transfer USDPT on its platform, adding another dollar-pegged option to the exchange’s stablecoin offerings and routing the token into standard trading infrastructure.

Dollar-pegged stablecoins have reached a combined market value of nearly $320 billion. Recent activity from payments firms includes MoneyGram’s MGUSD on the Stellar network, expanded settlement support from Mastercard for regulated stablecoins such as USDC, PayPal USD and Ripple USD, and Visa reporting an annualized $7 billion transaction run rate in its stablecoin settlement pilot in April.

Western Union framed USDPT as part of a broader digital asset strategy to modernize cross-border transfers. The company, founded in 1851, has promoted the token for payments and remittance use cases and positioned the design to meet U.S. regulatory expectations.

World Bank data using a $200 remittance benchmark shows some digital transfer methods can lower costs compared with traditional channels. International regulators and institutions continue to review stablecoin rules for cross-border use and consumer protection.

Bybit’s listing brings Western Union’s digital dollar into mainstream trading liquidity for the first time and makes USDPT available beyond payment rails.