Western Union launches stablecoin-backed Visa card in 37 markets

Western Union (NYSE: WU) and Rain have launched Stablecard by Western Union, a digital wallet and Visa secured credit card backed by USDPT, a U.S. dollar stablecoin issued by Anchorage Digital Bank on the Solana blockchain.

The product combines a USDPT digital wallet with a Visa card, allowing users to hold, transfer, and spend dollar-denominated value at any Visa-accepted merchant or ATM globally. USDPT is redeemable 1:1 for U.S. dollars and is fully backed by reserves.

Stablecard is available in 37 markets at launch, with Western Union targeting expansion to more than 60 markets by year-end. The product is available through the Apple App Store and Google Play.

Users can receive Western Union money transfers directly into their USDPT wallet, spend online or in store where Visa is accepted, and add Stablecard to Apple Pay and Google Pay.

Rain, which serves as the infrastructure provider for both the wallet and card, is a Visa and Mastercard Principal Member. The company provides stablecoin payment infrastructure to more than 100 organizations.

"Stablecard represents the next step in making global financial services more accessible to our customers," said Devin McGranahan, President and Chief Executive Officer of Western Union.

Farooq Malik, CEO and Co-founder of Rain, said the product places "stablecoin efficiency in the hands of people who have never thought about onchain money and never need to."

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