Anchorage Digital Pushes GENIUS Act Plan as Western Union Stablecoin Nears Launch

Anchorage Digital Bank has submitted a comment letter to the Office of the Comptroller of the Currency as U.S. regulators move forward with rules for stablecoin issuance under the $GENIUS Act. The letter comes as Anchorage prepares to support Western Union’s planned U.S. Dollar Payment Token, or USDPT, under a federally regulated issuance model.

The OCC proposed rules for payment stablecoin issuers earlier this year, covering institutions under its supervision. The agency said the proposal addresses regulations required under the $GENIUS Act, except separate rules tied to Bank Secrecy Act and sanctions compliance.

Anchorage is positioning itself as a regulated stablecoin issuer for major financial and crypto brands. The company’s $GENIUS Act letter points to its bank charter and its role in issuing stablecoins for partners as the market waits for final U.S. implementation rules.

Western Union Plans USDPT on Solana

Western Union announced in October 2025 that it planned to launch USDPT on Solana, with Anchorage Digital Bank serving as issuer. The company said USDPT would support customers, agents, partners, and treasury operations, while its Digital Asset Network would connect digital assets with fiat access.

The ticker matters. Some recent references showed UDSPT, but Western Union’s official announcement names the token USDPT, short for U.S. Dollar Payment Token. That is the safer version to use unless Anchorage’s latest letter clearly states otherwise.

Western Union expected USDPT to become available in the first half of 2026. More recent reporting said CEO Devin McGranahan told investors the company planned a May launch, with the first phase focused on settlement between Western Union and agents in selected corridors, rather than a broad retail rollout.

$GENIUS Act Rules Shape Stablecoin Issuers

The $GENIUS Act gives federal regulators a framework for payment stablecoins in the U.S. For Anchorage, the rulemaking process could define how federally supervised stablecoin issuers manage reserves, redemption, custody, risk controls, and reporting.

The OCC’s proposal also matters because stablecoin issuance now sits closer to the banking system. The agency supervises national banks and federal savings associations, and its rules will shape how bank-regulated issuers operate in the stablecoin market.

Anchorage’s letter shows how regulated crypto firms are trying to secure their place before the final rules take effect. Meanwhile, Western Union’s USDPT plan shows how traditional payments companies are testing stablecoins for cross-border settlement and digital asset access.