Western Union Unveils Stablecard: Combining Digital Wallets with Visa Credit Cards

Western Union has launched Stablecard, a new product that combines a digital wallet backed by the USDPT stablecoin with a Visa credit card. The service is available in 37 markets and allows customers to receive, store, and spend their USDPT funds through a digital wallet paired with a Visa card.

The USDPT stablecoin is issued by Anchorage Digital Bank on the Solana blockchain and is redeemable at a one-to-one ratio with the US dollar. Western Union notes that reserves backing the stablecoin consist of cash, US Treasury bills, and other cash-equivalent assets.

Stablecard allows eligible Western Union transfers to be deposited directly into a digital wallet, and users can also transfer USDPT from supported crypto wallets or exchanges before spending funds through Visa's global merchant network or withdrawing cash at compatible ATMs. The service is available via the Apple App Store and Google Play, and users are required to complete identity verification before accessing the service.

The launch of Stablecard represents the first consumer-facing use of USDPT after the stablecoin debuted earlier this year as a settlement asset for Western Union's global payment network. The new product extends that infrastructure by allowing customers to spend stablecoin balances directly instead of transferring funds into traditional bank accounts before making purchases.