Noah

Ethena

Union

Anchorage Digital Bank, the first federally chartered crypto bank in the US, has secured two distribution wins in just two days.
It can now settle international trades on Securitize with its stablecoins and also power a new Western Union cross-order payout service. The latest wins cement the bank’s role as an issuer for money-transfer and tokenization giants.
The second deal occurred on October 21, when Western Union named stablecoin infrastructure firm Noah to run the backend of a new remittance product built on USDPT. The US dollar stablecoin is issued by Anchorage on Solana.
It comes just one day after Securitize announced that it would mint and redeem <a href="https://www.cryptopolitan.com/binance-anchorage-triparty-network/" rel="noopener noreferrer nofollow">Anchorage-issued stablecoins</a> with the bank directly.
<h3 id="span-style-font-weight-400-western-union-routes-remittances-through-usdpt-span">Western Union routes remittances through USDPT</h3>
In its announcement, Western Union stated that Noah stablecoin infrastructure will power Receiver Redirect and provide the on-chain banking network that it will run on.
Receiver Redirect is Western Union’s service that delivers money transfers to recipients as stablecoins, in this case USDPT.
The service will cover more than 60 currencies and over 200 countries and territories, reaching Western Union’s customer base of 150 million-plus.
Senders can use the firm’s 500,000-plus agent locations, and recipients get to collect the stablecoin into a Western Union wallet. Holders can keep USDPT indefinitely through Stablecard, which is a product that Western Union announced in August 2026.
Noah’s role in the arrangement is to handle treasury, licensing, and the compliance needed to pre-fund, convert, and disburse the token across local rails.
The stablecoin infrastructure provider closed a $38 million seed round earlier in October.
Noah founder and CEO Shah Ramezani said in <a href="https://www.globenewswire.com/news-release/2026/10/21/3385265/0/en/western-union-selects-noah-to-power-global-stablecoin-payments-network.html" rel="noopener noreferrer nofollow">the announcement</a>, “The international movement of money through traditional banks is slow, expensive and no longer fit for purpose.”
Western Union’s Global Head of Digital Assets, Malcolm Clarke, called the direct wallet delivery “a global first.”
Compared to the market leaders in the stablecoin space, USDPT is still relatively small. It currently has a market cap of $17.36 million per <a href="https://defillama.com/stablecoin/western-union-usdpt" rel="noopener noreferrer nofollow">DeFiLlama data</a>. The stablecoin is not FDIC-insured or backed by the US government.
<h3 id="span-style-font-weight-400-securitize-settles-the-dollar-side-with-one-bank-span">Securitize settles the dollar side with one bank</h3>
The Securitize partnership, announced on October 20, lets institutions on the tokenization platform mint and redeem Anchorage-issued stablecoins directly with the bank instead of buying them from intermediaries.
Anchorage handles minting, custody, and settlement in one place, according to its press release. Securitize (NYSE: SECZ), which the company describes as the largest tokenization platform by assets under management, is the infrastructure layer behind tokenized funds from Apollo, BlackRock, BNY, Hamilton Lane, KKR, and VanEck, with more than $4 billion on the platform.
The pitch is counterparty symmetry: the cash leg of a tokenized trade can now meet the same custody standard as the securities leg.&nbsp;
“Regulated issuance is what lets tokenization reach institutional scale,” Anchorage co-founder and CEO Nathan McCauley said in the release. Securitize chairman and CEO Carlos Domingo said the deal gives the platform “direct access to digital dollars issued under federal oversight, custodied by the same institution that issues them.”
Anchorage cited rwa.xyz data showing the tokenized real-world asset market grew from about $23 billion at the end of 2025 to $31 billion by March 2026.
<h3 id="span-style-font-weight-400-a-widening-stablecoin-roster-span">A widening stablecoin roster</h3>
The two deals plug into a lineup Anchorage has been assembling. Its issuance roster includes USDtb, built with Ethena Labs, and USA₮, developed with Tether, alongside USDPT and others listed on the bank’s transparency page.
Those tokens already lean on tokenized assets for backing. Roughly 99% of USDtb’s $530 million in reserves sat in BlackRock’s BUIDL fund, itself tokenized by Securitize, as of August 31, 2026, per Anchorage’s attested reserve report. DefiLlama pegged USDtb’s market cap at about $517 million today.
Anchorage, founded in 2017 and valued above $3 billion at its Series D, counts Goldman Sachs, KKR, and Visa among backers. Cryptopolitan <a href="https://www.cryptopolitan.com/bybit-integrates-western-unions-usdpt-stablecoin/" rel="noopener noreferrer nofollow">reported</a> in June that Bybit became the first major exchange to integrate USDPT, which Western Union is positioning against rivals like Circle’s USDC.
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Anchorage wins distribution in back-to-back deals as Western Union and Securitize come onboard

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