Western Union Unveils Stablecard with USDPT Stablecoin in 37 Markets
The Western Union Stablecard, launched on August 4, 2026, in 37 markets, is a digital wallet paired with a Visa secured credit card backed by the USDPT stablecoin. This product allows users to hold, transfer, and spend U.S. dollar value globally, leveraging both the reach of Western Union and the technology of Rain, a fintech focused on cross-border stablecoin payments.
The scale of the Stablecard launch is significant for Western Union, but USDPT itself remains a small player in the stablecoin universe, with conflicting circulation figures reported by different sources. According to The Defiant's on-chain analysis, there were 7.4 million USDPT tokens as of the launch date, while Solana Explorer showed only about 5.92 million tokens outstanding.
The Stablecard app is available for download on both the Apple App Store and Google Play, and the virtual card can be added to digital wallets including Apple Pay and Google Pay. Users can fund their Stablecard in two main ways: by transferring USDPT stablecoin from a supported crypto wallet or exchange, or by using a 'Cash Redirect' feature to move eligible Western Union remittances directly into the Stablecard wallet.
The launch comes at a pivotal time for Western Union, which reported a 1% year-over-year decline in GAAP revenue to $1.0 billion in the second quarter of 2026, prompting a trimmed annual outlook due to weakness in its Americas retail business. The company aims to grow from 37 to over 60 markets by the end of 2026.