Anchorage wins distribution in back-to-back deals as Western Union and Securitize come onboard

Anchorage Digital Bank, the first federally chartered crypto bank in the U.S., secured two distribution agreements on consecutive days. On October 20, tokenization platform Securitize said institutions could mint and redeem Anchorage-issued stablecoins directly with the bank, which handles minting, custody and settlement. The next day, money-transfer firm Western Union named Noah, a provider of stablecoin infrastructure, to run the backend of a remittance service using USDPT, Anchorage’s dollar stablecoin on Solana; the service is to cover more than 60 currencies and 200 countries. USDPT, which is not FDIC-insured or backed by the U.S. government, had a $17.36 million market cap.