Western Union Partners with Rain to Launch Stablecard

Western Union has partnered with stablecoin infrastructure company Rain to launch a dollar-pegged stablecoin-based digital wallet and Visa card. Users can hold, transfer, and spend stablecoins, and they can also receive traditional Western Union remittances directly into their stablecoin wallets. The stablecard combines a digital wallet with a Visa debit card, utilizing the USDPT stablecoin, which is issued on the Solana blockchain. Western Union supports users in receiving existing international remittances directly into their USDPT wallets and allows payments at Visa merchants through Apple Pay and Google Pay. The service is launching in 37 markets, with plans to expand to over 60 countries by the end of the year. Western Union has designed this service not just as a remittance tool but as a dollar-based asset custody service. The primary target audience includes recipients of international remittances and consumers in countries with high volatility in local currency values. Stablecoins are expanding their influence in the cross-border remittance market with fast transfer speeds and low costs, and traditional remittance companies are also entering the market.

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