Bybit becomes first major crypto exchange to list Western Union’s USDPT in selected Latin American markets

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has integrated with Western Union to give users access to USDPT, a US dollar-denominated stablecoin issued by Anchorage Digital Bank, N.A. on the Solana blockchain. For high-risk PSPs, the point is straightforward: this is another attempt to move remittance and payout flow from slow correspondent-style settlement into a 24/7 crypto rail with fiat entry and exit built in.

1. Bybit says it is the first major crypto exchange to join Western Union’s global USDPT network. Users can access USDPT through Bybit’s fiat channels, and the integration initially launches in selected markets in Latin America.
2. USDPT is redeemable 1:1 for US dollars and fully backed by reserves. Western Union positions it as a settlement asset designed to work inside real-world payment systems, combining blockchain-based settlement with its global compliance, risk, and distribution capabilities.
3. The launch creates a new on-ramp and off-ramp for USDPT. Bybit says the flow cuts the time from USDPT purchase to fiat off-ramp from days to minutes, while also reducing settlement friction and capital lock-up for both Western Union and Bybit.
4. Western Union says USDPT enables around-the-clock settlement, unlike legacy settlement networks that operate only on business days. Malcolm Clarke, Head of Digital Assets at Western Union, said the integration extends Western Union’s network into the digital asset ecosystem and connects its payout infrastructure with a major crypto platform.
5. Bybit framed the deal as a payment-infrastructure play for crypto adoption. Victoria Kilikyan, Deputy Head of Fiat at Bybit, said the move shows crypto’s potential as payment infrastructure, while Patricio Mesri, Country Manager of Spanish-speaking Latin America at Bybit, said the partnership is aimed at real-world crypto adoption in Latin America.

For operators in remittance-heavy and high-risk corridors, the structure matters more than the branding: a stablecoin with fiat ramps, a regulated issuer, and an established payout network is the kind of setup that can change who controls settlement timing, liquidity, and compliance handling.