Western Union (NYSE: WU) has launched Stablecard, a digital wallet paired with a Visa-branded secured credit card, developed with stablecoin infrastructure firm Rain, Crowdfund Insider reported. The product debuted on August 4 in 37 markets, with Western Union targeting more than 60 by the end of 2026.
Dollar Stablecoins Meets the Money Transfer Giant
Stablecard lets users receive, hold and spend USDPT — a US dollar-backed stablecoin issued by Anchorage Digital Bank on the Solana blockchain. Customers can receive Western Union money transfers directly in USDPT and spend the funds online or in stores that accept Visa, including through Apple Pay and Google Pay.
A Big Step Into Blockchain Payments
The launch marks one of Western Union's biggest moves into blockchain-based payments, according to the company's news release. The tie-up gives the 150-plus-year-old remittance firm a way to settle cross-border transfers instantly while letting customers hold dollar value in a self-custodied wallet.
The move is part of a broader wave of traditional payments and banking companies adopting stablecoins, from card networks to remittance players, as the infrastructure for dollar-backed digital payments expands, Forbes reported.
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