Western Union is bringing stablecoins into everyday payments with the launch of Stablecard in 37 markets.
Developed with Rain, Stablecard combines a digital USDPT wallet with a Visa secured credit card linked to the U.S. dollar stablecoin.
USDPT is issued by Anchorage Digital Bank on the Solana blockchain.
It is redeemable one-for-one for U.S. dollars and is fully backed by reserves.
The Stablecard app allows users to receive Western Union money transfers directly into their USDPT wallet, hold and transfer the stablecoin, and send or receive funds from compatible digital asset wallets and exchanges.
Users can spend their balance through the linked Visa card at merchants and ATMs where Visa is accepted, both online and in stores.
The card can also be added to Apple Pay and Google Pay in supported markets.
Western Union is targeting more than 60 markets for Stablecard by the end of 2026.
The company is positioning Stablecard partly at remittance recipients in markets where local currencies can fluctuate.
“Stablecard represents the next step in making global financial services more accessible to our customers.
By combining the stability of a dollar-backed digital asset with the scale of Western Union’s global network and Visa’s acceptance footprint, we’re giving consumers a new way to hold value, move money and spend confidently across borders.”
said Devin McGranahan, President and Chief Executive Officer of Western Union.
“Western Union is putting stablecoin efficiency in the hands of people who have never thought about onchain money and never need to.
With Rain’s enterprise infrastructure underneath both the wallet and card, users enjoy a modern experience that just works with all of the compliance and protections built in,”
said Farooq Malik, CEO and Co-founder of Rain.
The Stablecard app is available through the Apple App Store and Google Play in supported markets.
Featured image: Edited by Fintech News Singapore, based on image by Magnific
