Bybit integrates Western Union USDPT in Latin America

Bybit and Western Union announced on June 4, 2026 that Bybit has integrated USDPT, a US dollar–pegged stablecoin, into its fiat on‑ramps and off‑ramps for selected Latin American markets. The integration allows users to buy and redeem USDPT on the Solana blockchain through Bybit’s platform.

USDPT is issued 1:1 by Anchorage Digital Bank, N.A., a national trust bank chartered by the US Office of the Comptroller of the Currency. The stablecoin is fully reserve-backed and operates on Solana, which enables around‑the‑clock settlement and higher transaction throughput than traditional bank rails.

Under the new channel, users in approved Latin American jurisdictions can purchase USDPT with local currency on Bybit or convert USDPT holdings back to fiat. On‑chain settlement on Solana reduces payout time from multiple days under correspondent banking and legacy wire processes to minutes, and removes some intermediary steps and capital locks tied to cross‑border bank settlement.

Patricio Mesri, Bybit’s country manager for Spanish‑speaking Latin America, called the integration a new standard for real‑world crypto adoption in the region and noted the partnership connects Bybit’s platform to a global payout network trusted by millions. Victoria Kilikyan, Deputy Head of Fiat at Bybit, described USDPT as an example of how an established financial institution and a crypto exchange can deliver payment infrastructure for remittance users.

Western Union provides the USDPT stablecoin, compliance and risk management, and access to its agent network. Malcolm Clarke, Head of Digital Assets at Western Union, described the arrangement as a way to link the company’s global payout infrastructure with crypto platforms to enable continuous, programmable settlement between digital value and fiat.

The Bybit integration follows MoneyGram’s launch of MGUSD on Stellar on June 2, 2026. Both USDPT and MGUSD are marketed as 1:1 USD‑backed stablecoins, but they differ in issuer structure and blockchain choice: USDPT is issued by an OCC‑chartered national trust bank and issued on Solana, while MGUSD uses a different issuer and the Stellar network with third‑party custody arrangements.

Western Union’s physical distribution — more than 500,000 agent locations worldwide, including many in Latin America — combined with Bybit’s fiat rails creates a direct fiat‑to‑stablecoin‑to‑fiat corridor. The initial rollout focuses on Latin America, where dollar‑denominated instruments and stablecoin use are high per capita.

The channel shortens settlement times for senders and recipients and reduces layers of intermediaries in cross‑border payments. Availability is limited to selected jurisdictions and will depend on local regulatory and compliance approvals.