USDPT, issued by Anchorage Digital Bank, N.A. and sponsored by The Western Union Company (NYSE: WU), is a U.S. dollar payment stablecoin that maintains a 1:1 value with the U.S. dollar and is redeemable 1:1 for U.S. dollars [S1].

Each USDPT represents a claim on U.S. dollars (USD) held in reserve, with an equal amount of USD held for every USDPT issued [S1]. Reserves include bank deposits, U.S. Treasury bills, and similar cash equivalents [S1]. USDPT is a payment instrument rather than a yield-bearing one, and the issuer documents publish no coupon, dividend, NAV accrual, or rebasing mechanism passed to holders [S1].

USDPT is issued by Anchorage Digital Bank, N.A., a U.S. national trust bank operating under a national trust bank charter in the United States [S1]. The holder's claim is a stablecoin redeemable 1:1 for USD [S1]. USDPT is not issued, backed, approved, or guaranteed by the U.S. government, and is not insured by the Federal Deposit Insurance Corporation (FDIC) or any other U.S. government agency [S1]. Availability is limited to select markets across exchange purchase, the Digital Asset Network cash-out service at Western Union locations, a self-custody wallet with Visa card, and receiving transfers in USDPT [S1].

USDPT is natively issued on the Solana blockchain network, with no other networks or bridged availability stated [S1]. Tokens are minted by Anchorage Digital Bank, N.A. on Solana, with an equal amount of USD held in reserve for each USDPT issued [S1]. Because USDPT holds a 1:1 USD value, the issuer publishes no NAV or price oracle [S1].

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    { id: "S1", url: "https://www.westernunion.com/global/en/digital-assets-stablecoin.html" },
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# Outstanding supply Methodology

## Overview

Outstanding supply measures the circulating supply of stablecoins issued by a project. It excludes stablecoins that have been authorized but not issued, or that are held in the issuer’s treasury. It tends to serve as a proxy for the issuer’s revenue-generation capacity, as the collateral backing the outstanding supply is often invested in yield-bearing assets, such as U.S. Treasuries.

## Data sources

- Smart contract events capturing token issuance and redemption
- Token account balances and program instructions for non-EVM chains
- Token metadata for decimal precision and asset identification
- Token price feeds for USD conversion

## Common calculation approaches

### Event-based issuance tracking
For many stablecoin issuers, cumulative supply is determined by monitoring token issuance and redemption events. `Mint` and `Burn` events are extracted from the smart contracts of issuers such as Circle and Ethena to maintain a running total of net supply. Similar logic is applied to `Transfer` events involving the zero address for issuers like World Liberty Financial to identify changes in the circulating supply.

### Balance-based snapshot aggregation
Outstanding supply is also derived from daily snapshots of token holdings across various blockchains. On Solana, the total supply is aggregated from program instructions for issuers like Tether and Circle by summing the balances of all active token accounts. This method allows for the identification of circulating tokens while ensuring that assets held in known treasury or non-circulating addresses are excluded.

### Debt-based calculation with exclusions
For issuers with debt-based models, outstanding supply is calculated by identifying total minted debt and subtracting idle balances. For example, total debt is obtained from the `debt` function in `VAT` contracts for Sky, with assets held in bridge contracts or lending modules subsequently excluded to arrive at the net circulating amount.

**Note:** The calculation approaches and protocol examples above are representative patterns. Individual protocol implementations may vary.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Circulating supply of stablecoins issued by the project.

Outstanding supply

Stablecoins

Anchorage generates revenue from institutional clients through custody fees, staking services, trading, governance participation, and settlement infrastructure.

Anchorage Digital is a federally chartered digital asset bank providing institutional-grade custody, staking, trading, and governance services. It is the first OCC-chartered crypto bank in the United States.

Anchorage Digital was co-founded by Diogo Monica and Nathan McCauley, formerly of Docker, and is the first OCC-chartered crypto bank in the United States.

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Anchorage Digital

WesternUnion U.S. Dollar Payment Token (USDPT) is a U.S. dollar stablecoin issued by Anchorage Digital through Anchorage Digital Bank, National Association.

Each token is redeemable one-for-one for U.S. dollars and is a collateral-backed contractual exposure rather than a direct claim on the issuer.

Reserves are held in cash and money market funds, in accounts segregated from the issuer's own funds.

Holders can mint and redeem directly with Anchorage Digital in USD after completing KYC, and holders have a contractual right to redeem at par.

Anchorage Digital Bank, National Association is chartered as a U.S. national trust bank and is supervised by the Office of the Comptroller of the Currency (OCC).

USDPT has been issued on Solana as a SPL Token-2022 token since December 2025.

WesternUnion U.S. Dollar Payment TokenUSDPT