Western Union has launched Stablecard in partnership with stablecoin payments platform Rain.
The launch follows Western Union’s earlier introduction of USDPT, a US dollar-denominated payment stablecoin.
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The new product, Stablecard by Western Union, combines a digital wallet with a USDPT-backed Visa secured credit card.
In a statement, Western Union said the product offers a “consumer-friendly way” for users to receive and hold USDPT, and spend funds wherever Visa is accepted.
The card can also be added to digital wallets including Apple Pay and Google Pay.
USDPT is issued by Anchorage Digital Bank on the Solana blockchain. It is redeemable 1:1 for US dollars and is “fully backed by reserves”, the statement added.
Stablecard is launching in 37 markets initially. Western Union plans to expand availability to more than 60 markets by the end of the year.
Western Union president and CEO Devin McGranahan said: “Stablecard represents the next step in making global financial services more accessible to our customers.
“By combining the stability of a dollar-backed digital asset with the scale of Western Union’s global network and Visa’s acceptance footprint, we’re giving consumers a new way to hold value, move money and spend confidently across borders.”
The service is delivered through the Stablecard mobile app, which combines a USDPT wallet and Visa card management in a single interface. The app is available on the Apple App Store and Google Play in supported markets.
Rain co-founder and CEO Farooq Malik said: “Western Union is putting stablecoin efficiency in the hands of people who have never thought about onchain money and never need to.
“With Rain’s enterprise infrastructure underneath both the wallet and card, users enjoy a modern experience that just works with all of the compliance and protections built in.”
