The Western Union Company (NYSE:WU) and Rain today announced the launch of Stablecard by Western Union, a digital wallet and USDPT-backed Visa secured credit card designed to enable consumers to hold, move and spend U.S. dollar value globally.

Stablecard offers a consumer-friendly way to receive funds and store value in USDPT, a U.S. dollar stablecoin, in a secure digital wallet and spend seamlessly anywhere Visa is accepted. USDPT is issued by Anchorage Digital Bank on the Solana blockchain. USDPT is redeemable 1:1 for U.S. dollars and is fully backed by reserves.

The industry has spent years making digital dollars easier to move and store. Stablecard makes them easy to spend. Stablecard answers a simple need: hold dollar value and spend it anywhere Visa is accepted. For remittance receivers in markets where local currencies frequently fluctuate, a dollar-backed balance protects what they have already earned. For everyday spenders, it turns that balance into spending power at any Visa merchant or ATM, online or in store.

Stablecard goes live in 37 markets, including the key markets where local currency is not stable and demand for stablecoins is already visible—with Western Union targeting more than 60 markets by the end of the year.

The Stablecard mobile app combines a digital USDPT wallet and a Visa card in a single experience. Customers can request and manage their Stablecard, hold and transfer USDPT, and send and receive funds to and from compatible digital asset wallets and exchanges — with value spendable instantly through the linked Visa card.

With Stablecard, users can:

• Receive Western Union money transfers directly into their USDPT wallet
• Hold value in USDPT, backed by U.S. dollars
• Spend globally online or at merchant locations where Visa is accepted
• Add Stablecard to their digital wallets such as Apple Pay and Google Pay
• Access the Stablecard application today in the Apple App Store and Google Play and instantly hold and spend USDPT in supported markets.

“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. “By combining the stability of a dollar-backed digital asset with the scale of Western Union’s global network and Visa’s acceptance footprint, we’re giving consumers a new way to hold value, move money and spend confidently across borders.”

“Western Union is putting stablecoin efficiency in the hands of people who have never thought about onchain money and never need to. With Rain’s enterprise infrastructure underneath both the wallet and card, users enjoy a modern experience that just works with all of the compliance and protections built in,” said Farooq Malik, CEO and Co-founder of Rain.