The remittance giant's Stablecard app, live in 37 markets, pairs a Visa secured card with a Solana-based USDPT wallet. Funds settle in seconds versus days, and Western Union plans 60+ markets by year-end.
Western Union (NYSE: WU) launched a new product called Stablecard on Aug. 4, pairing a digital wallet with a Visa secured credit card. The wallet holds the company's own dollar-linked token, USDPT, issued by Anchorage Digital Bank on the Solana blockchain. It is fully reserved and redeemable one-for-one for US dollars.
The mobile app lets recipients accept Western Union transfers into a USDPT wallet, keep the balance in digital dollars, move tokens to or from compatible wallets and exchanges, and spend the funds via the linked Visa card. The card works online, at physical merchants, and at ATMs where Visa is accepted. In supported locations it can also be added to Apple Pay or Google Pay.
Initial availability covers 37 markets. Western Union plans to reach more than 60 by the end of the year, prioritizing places where local currencies are volatile and demand for dollar-backed digital assets is strong.
Recipients who once had to collect cash at a physical agent location can now keep the value in dollars inside the app and spend it directly, while still retaining the option to withdraw cash at a Western Union outlet.
Devin McGranahan, Western Union's president and CEO, said pairing a stable digital dollar with the firm's global network and Visa's acceptance gives customers a way to preserve value, transfer money, and spend across borders with greater confidence. Rain's CEO and co-founder Farooq Malik said the infrastructure makes stablecoin benefits available to people who may never have considered on-chain finance.
Beyond convenience for users, the model improves capital efficiency for Western Union itself. Traditional remittances often require prefunding accounts in destination countries days in advance. USDPT settles in seconds at any time, so the company can move liquidity only when needed rather than holding idle balances around the world. Funds that remain inside the app also stay within the Western Union ecosystem longer, opening the door to additional digital services, McGranahan said.
The Stablecard app is available now in the Apple App Store and on Google Play in the initial 37 markets. Access, features, and fees vary by local regulation. No timeline was given for the next phase of markets.
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