Western Union has expanded its digital payments strategy by launching Stablecard, a new product developed with stablecoin infrastructure provider Rain.
Introduced on August 4, the service enables customers in 37 markets to receive, store and spend the company’s USDPT stablecoin through a digital wallet paired with a Visa card, with expansion to more than 60 markets planned before the end of the year.
Available via the Apple App Store and Google Play, Stablecard allows eligible Western Union transfers to be deposited directly into a digital wallet. 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.
USDPT is issued by Anchorage Digital Bank on the Solana blockchain and is redeemable at a one-to-one ratio with the US dollar. According to Western Union, reserves backing the stablecoin consist of cash, US Treasury bills and other cash-equivalent assets. The company notes that USDPT is not insured by the FDIC and is neither issued nor guaranteed by the US government.
Rain provides the wallet technology, payment infrastructure and compliance framework behind Stablecard. The application supports Apple Pay and Google Pay, while users are required to complete identity verification before accessing the service. No credit check or minimum account balance is required, although ATM withdrawals, currency conversion and other local fees may apply.
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The launch 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.
Western Union says Stablecard is part of its broader digital expansion as demand for online remittance services continues to grow. During the company’s latest quarterly results, digital revenue increased 7% year over year, while digital transactions rose 25%, despite overall quarterly revenue declining 1% to approximately $1 billion.
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The success of the initiative will likely be measured by user adoption, payment volumes and the planned rollout into additional markets. Future reserve reports and circulation data will also provide greater visibility into USDPT’s growth as Western Union continues expanding its stablecoin ecosystem.
