Western Union Enters Stablecoin Market with Visa-Branded Card

Western Union has expanded its services to include a digital wallet and Visa-branded card that can store, transfer, and pay with the USDPT stablecoin. The company partnered with Rain, a stablecoin infrastructure firm, to introduce 'Stablecard', which supports the dollar-pegged USDPT issued by Anchorage Digital Bank.

Users can hold USDPT in their wallets, receive, transfer, and make payments using it. Western Union remittances can be received directly into a USDPT wallet, and users can move funds to compatible crypto wallets or exchanges.

The digital wallet also supports Apple Pay and Google Pay, allowing users to use their balances at any Visa merchant. Western Union plans to expand the availability of Stablecard to over 60 markets by year-end.