Western Union and Rain launch stablecoin-backed Visa card in 37 markets
Western Union and Rain launch stablecoin-backed Visa card in 37 markets #
Western Union has launched Stablecard, a digital wallet and Visa secured credit card backed by its U.S. Dollar Payment Token (USDPT) stablecoin, developed in partnership with stablecoin payments infrastructure firm Rain. The product launched on August 4 and is now live in 37 markets, with the company targeting coverage of more than 60 countries before the end of the year.
Stablecard allows users to receive Western Union money transfers directly into a USDPT-denominated digital wallet, hold and transfer the stablecoin balance, and spend it anywhere Visa is accepted, including online, in stores, and at ATMs. The card can also be added to Apple Pay. The Stablecard app is available on both the Apple App Store and Google Play.
USDPT maintains a one-to-one peg with the US dollar and is fully backed by reserves. It is issued by federally chartered Anchorage Digital Bank and runs on the Solana blockchain. The initial rollout includes markets such as Argentina, Colombia, Mexico, and the Philippines, countries where currency instability and high inflation have historically made it difficult for remittance recipients to preserve the dollar value of funds they receive.
“Stablecard represents the next step in making global financial services more accessible to our customers,” Western Union President and Chief Executive Devin McGranahan said in the company’s announcement. The product extends Western Union’s existing cross-border transfer network into a consumer spending layer that keeps funds denominated in dollars rather than forcing immediate conversion into local currency.
Western Union first indicated it was exploring a stablecoin card product in December 2025, when CFO Matt Cagwin described the concept at the UBS Global Technology and AI Conference, citing Argentina as a key use case for recipients holding value against hyperinflationary conditions. The August launch widens that original positioning to include everyday spenders beyond those seeking a pure inflation hedge.
The product also positions Western Union, which moved more than $107 billion in cross-border payments annually, deeper into the digital asset space, as major financial institutions have increasingly adopted stablecoins for faster, lower-cost cross-border payments. Rain, which provides the enterprise stablecoin infrastructure underpinning the card, confirmed the launch through its website on August 4.
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