Western Union Unveils Stablecard for Cross-Border Spending

Western Union has launched Stablecard in 37 markets, a digital wallet and Visa-secured credit card that allows users to receive, hold, and spend US dollar value across borders.

The product combines stablecoin-based spending with Western Union's money transfer network for consumers who want to preserve the value of their funds. Stablecard lets users receive funds into a digital wallet holding USDPT, a US dollar stablecoin issued by Anchorage Digital Bank on the Solana blockchain, which is redeemable one-to-one for US dollars and fully backed by reserves.

Users can spend balances anywhere Visa is accepted, including online, in shops, and at cash machines. Through the mobile app, users can also transfer USDPT to and from compatible digital asset wallets and exchanges.