Western Union Launches Stablecoin Card for Cross-Border Spend

Western Union and Rain have launched Stablecard, a digital wallet and Visa card that lets people receive money transfers as USDPT, the Anchorage-issued Solana token Western Union launched in May. The stablecoin behind it has $7.4 million in circulation.

The product extends Western Union's onchain push from settlement infrastructure into a consumer-facing product. It gives recipients of money transfers a dollar-denominated balance they can spend without converting to local currency. Stablecard is live in 37 markets, which Western Union said include 'the key markets where local currency is not stable and demand for stablecoins is already visible.'

Western Union's president and chief executive Devin McGranahan said the product combines the stability of a dollar-backed digital asset with the scale of Western Union's global network and Visa's acceptance footprint, giving consumers a new way to hold value, move money and spend confidently across borders.