Bybit Adds USDPT as Western Union Expands Stablecoin Distribution Network

Bybit has added support for USDPT, the US dollar pegged stablecoin launched by Western Union Digital, marking the token’s first listing on a major crypto trading platform. The integration allows users to hold, trade and transfer USDPT, expanding its use beyond payments and remittances into the broader digital asset market.

Bybit said it is the first major crypto exchange to offer support for USDPT, giving the stablecoin access to deeper market liquidity and a wider user base.

Western Union Strengthens Digital Asset Strategy

Western Union introduced USDPT in May as part of its growing focus on blockchain-based financial services. The stablecoin is backed by reserves held at Anchorage Digital Bank and initially launched on the Solana blockchain. The company has stated that USDPT was developed to align with the regulatory framework established under the US GENIUS Act for payment stablecoins.

Stablecoin Market Continues Rapid Growth

The latest expansion comes as stablecoins remain one of the fastest-growing sectors in digital assets. Industry data shows the total value of dollar-pegged stablecoins has reached nearly $320 billion.

Payment Companies Increase Stablecoin Adoption

Western Union is among several payment providers entering the market. MoneyGram recently launched its own dollar-backed stablecoin, MGUSD, on the Stellar network, while Mastercard expanded support for USDC, PayPal USD and Ripple USD for settlement services. Visa has also reported significant growth in its stablecoin settlement program, highlighting rising interest in blockchain-powered payment systems.

Industry observers believe stablecoins could help lower the cost of cross-border transfers, particularly in developing markets where traditional remittance services often remain expensive and less accessible.