The remittance firm rolls out a dollar-backed stablecoin card to enable cross-border payments and savings in volatile economies.
Western Union has introduced Stablecard, a Visa-branded digital wallet and card allowing users to hold, transfer, and spend USDPT, a US dollar-backed stablecoin on the Solana blockchain. The product targets remittance recipients and consumers in markets with unstable local currencies, offering dollar-denominated savings and spending via Visa’s network, including Apple Pay and Google Pay integrations.
Stablecard is available in 37 markets, with plans to expand to over 60 by year-end. Users can receive Western Union transfers directly into a USDPT wallet, transfer funds to compatible crypto wallets, and spend balances at Visa-accepting merchants. The launch follows Western Union’s May unveiling of USDPT, reflecting its push into blockchain-based cross-border payments.
The move aims to capitalize on growing demand for stablecoins in remittances, providing an alternative to traditional fiat transfers in regions with currency volatility. Western Union partnered with stablecoin infrastructure provider Rain to develop the product, marking one of its largest blockchain initiatives to date.