Western Union and Rain Launch Stablecoin-Backed Visa Card in 37 Markets
The new product, called Stablecard, combines a digital wallet with a Visa-secured credit card and is backed by the USDPT stablecoin, initially rolling out in 37 countries with plans for further expansion.
Global money transfer company Western Union has partnered with stablecoin payments platform Rain to launch a new product called Stablecard. Announced on August 5, 2026, the offering includes a digital wallet integrated with a Visa-secured credit card, enabling users to hold and spend a US dollar-pegged stablecoin.
The product is initially available in 37 markets, with Western Union planning to expand its availability to more than 60 countries by the end of 2026. The service is designed for consumers, particularly remittance receivers in regions with fluctuating local currencies, to hold value in a dollar-backed digital asset and spend it globally wherever Visa is accepted.
How Stablecard Works
The Stablecard is linked to USDPT, a stablecoin redeemable on a 1:1 basis for US dollars. This digital currency is issued by Anchorage Digital Bank, a federally chartered crypto bank in the United States, and operates on the Solana blockchain. The reserves fully backing USDPT consist of bank deposits and U.S. Treasury bills.
Users can manage their funds through the Stablecard mobile app, which combines the USDPT wallet and Visa card management. The platform allows customers to receive Western Union money transfers directly into their digital wallet. The card can also be added to mobile payment systems like Apple Pay and Google Pay for use online or at physical merchant locations.
Bridging Traditional and Digital Finance
Executives from both companies highlighted the product's role in making financial services more accessible. Devin McGranahan, President and CEO of Western Union, stated the initiative combines "the stability of a dollar-backed digital asset with the scale of Western Union's global network and Visa's acceptance footprint."
Rain, which provides the enterprise infrastructure for the wallet and card, aims to simplify the use of stablecoins for everyday consumers. "Western Union is putting stablecoin efficiency in the hands of people who have never thought about onchain money and never need to," said Farooq Malik, CEO and Co-founder of Rain.
Sources
- Yahoo Finance — Western Union and Rain launch Stablecard tied to USDPT
- Western Union and Rain launch Stablecard tied to USDPT
- Western Union and Rain launch Stablecard tied to USDPT
- Western Union Launches Stablecard in Partnership with Rain
- Stablecoins Come to Money Transfers Via Western Union's Stablecard – Digital Transactions
- Western Union partners Rain to debut Stablecard – FinTech Futures
- Western Union Launches Stablecard with Rain for Global Dollar Spending | LeapRate
- What Is USDPT? Western Union's Solana-Native Stablecoin Explained
- Western Union USDPT Stablecoin | Trusted Digital Dollar
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