Western Union partnered with stablecoin platform Rain and Visa to launch Stablecard. This digital wallet and Visa card utilizes a U.S. dollar-backed stablecoin. Users can receive funds, hold dollar-denominated assets, and spend at any global Visa merchant.
The project integrates Western Union’s remittance network with Rain’s infrastructure and Visa’s payment acceptance. Anchorage Digital Bank issues the USDPT stablecoin on the Solana blockchain. Each USDPT token remains redeemable 1-to-1 for U.S. dollars.
The service initially debuts in 37 markets facing high currency volatility. Western Union plans to expand the offering to over 60 markets by year-end.