Western Union brings stablecoin remittances to Visa network with Stablecard
The remittance giant is rolling out Stablecard across 37 markets, targeting cross-border payments and consumers seeking US dollar-denominated savings in volatile economies.
Western Union has partnered with stablecoin infrastructure provider Rain to launch Stablecard, a digital wallet and Visa-branded card that enables users to hold and spend a US dollar-backed stablecoin, marking one of the company’s biggest moves into blockchain-based payments.
On Wednesday, Western Union said Stablecard allows users to hold, receive, transfer and spend USDPT, a US dollar-backed stablecoin issued by Anchorage Digital Bank on the Solana blockchain.
Stablecard launched in 37 markets, with Western Union aiming to expand availability to more than 60 markets by the end of the year. Users can receive Western Union money transfers directly into a USDPT wallet, transfer funds to compatible crypto wallets and exchanges and spend their balances anywhere Visa is accepted, including through Apple Pay and Google Pay.