Key facts
- Western Union has launched Stablecard, a digital wallet and Visa-branded card, in partnership with stablecoin infrastructure provider Rain.
- Stablecard enables users to hold, receive, transfer, and spend USDPT, a US dollar-backed stablecoin issued by Anchorage Digital Bank on the Solana blockchain.
- The service is initially available in 37 markets, with expansion planned to over 60 by the end of the year.
- Users can receive Western Union money transfers directly into their USDPT wallet and spend balances anywhere Visa is accepted.
- The product is designed for cross-border payments and to offer dollar-denominated savings in economies with volatile local currencies.
Western Union has launched Stablecard, a digital wallet and Visa-branded card, in partnership with stablecoin infrastructure provider Rain. This move allows users to hold, receive, transfer, and spend USDPT, a US dollar-backed stablecoin issued by Anchorage Digital Bank on the Solana blockchain.
The service is initially available in 37 markets, with plans to expand to over 60 by the end of the year. Users can receive Western Union money transfers directly into their USDPT wallet, transfer funds to compatible crypto wallets and exchanges, and spend their balances anywhere Visa is accepted, including via Apple Pay and Google Pay.
The product is aimed at remittance recipients and consumers in countries with volatile local currencies, offering them the ability to hold savings in a dollar-backed digital asset while spending through existing payment networks. Western Union had previously unveiled USDPT in May as part of its broader digital asset strategy, and Bybit added support for USDPT trading and transfers in June.
This development reflects a broader trend of stablecoins gaining traction for cross-border payments, offering faster and potentially lower-cost alternatives to traditional remittance services. Rival MoneyGram has also launched its own stablecoin, MGUSD, on the Stellar network.