Western Union has launched Stablecard, a digital wallet and stablecoin-backed Visa secured credit card developed in partnership with Rain, enabling consumers to hold, move, and spend US dollar value worldwide.

The product allows users to store value in USDPT, a US dollar-pegged stablecoin issued by Anchorage Digital Bank on the Solana blockchain. USDPT is redeemable on a one-to-one basis for US dollars and is fully backed by reserves. Cardholders can spend their balance anywhere Visa is accepted.

Western Union said Stablecard targets both remittance recipients in markets where local currencies are volatile and everyday consumers seeking a dollar-denominated spending option. The mobile application integrates the USDPT wallet and the Visa card into a single experience. Customers can receive Western Union money transfers directly into their wallet, hold funds, send and receive value to and from compatible digital asset wallets and exchanges, and add the card to mobile payment services such as Apple Pay and Google Pay.

The launch places Western Union among a growing set of legacy financial institutions and payment networks exploring stablecoin-based settlement and consumer products. Visa has piloted stablecoin settlement on blockchains including Solana, and other cross-border payment providers have integrated digital asset rails to reduce transaction costs and settlement times.

Stablecard is now available in 37 markets, with Western Union planning to expand to more than 60 markets by the end of the year.

"Stablecard represents the next step in making global financial services more accessible to our customers," said Devin McGranahan, President and Chief Executive Officer of Western Union. "We're giving consumers a new way to hold value, move money and spend confidently across borders."

Rain Chief Executive and co-founder Farooq Malik said the product delivers "stablecoin efficiency in the hands of people who have never thought about onchain money and never need to," with compliance and protections built in.

Western Union, founded in 1851, is one of the world's largest cross-border money transfer companies, operating in over 200 countries and territories. Rain is a stablecoin infrastructure provider that partners with financial institutions to issue card and payment products powered by blockchain-based dollars. Anchorage Digital Bank is a federally chartered crypto bank in the United States that provides digital asset custody and issuance services.