Western Union Launches USDPT Stablecard in 37 Markets

Western Union has launched a Stablecard that lets customers receive remittances in its USDPT dollar stablecoin and spend the funds at Visa merchants worldwide.

Stablecoin payments infrastructure provider Rain said on its website on August 4 that Western Union introduced the card using Rain’s infrastructure. The service is launching in 37 markets and is due to expand to more than 60 by year-end.

USDPT is a dollar stablecoin issued by Western Union and minted by Anchorage Digital Bank on the Solana network.

Users can receive Western Union transfers in USDPT, store the funds in the app, or load them onto the Stablecard for immediate spending. The card can be added to Apple Pay and Google Pay and used at more than 175 million Visa merchant locations worldwide. Customers can also continue to withdraw cash at Western Union branches.

Western Union processes more than $100 billion in remittances each year across more than 200 countries and territories. The company said the Stablecard lets customers receive or spend remittance funds in digital dollars without visiting a branch.

Western Union also said stablecoins could reduce the need to prefund overseas remittance operations. Traditionally, payout funds had to be deposited in bank accounts in each country in advance. With USDPT, funds can be transferred within seconds, including on weekends and holidays, allowing money to move when demand arises.

“Stablecard will be the next step in making financial services more accessible to customers around the world,” Chief Executive Officer Devin McGranahan said.

Rain also provides an integrated mobile app, a USDPT wallet, and Visa card issuance and payment infrastructure.