Western Union Launches Stablecard for Visa-Linked Crypto Payments

Western Union has launched Stablecard, a digital wallet linked to Visa that allows users to receive, store, and spend the USDPT stablecoin. This service combines blockchain infrastructure with traditional payment networks, enabling users to make payments anywhere Visa cards are accepted.

The company debuted Stablecard in 37 markets on August 4, with plans to expand coverage to over 60 countries by year-end. The USDPT stablecoin is backed one-to-one by U.S. dollars, bank deposits, and short-term U.S. Treasury bills, aiming to maintain a stable value relative to the dollar.

Users can manage their funds directly through a mobile app, eliminating the need for manual conversion to traditional fiat currency before spending. The 'Cash Redirect' feature allows specific international money transfers sent via Western Union to be automatically converted into USDPT and loaded onto the digital wallet.