Western Union Launches Stablecard on Solana, Expanding to 37 Markets with $6M USDPT in Circulation

On August 4, Western Union launched Stablecard, a digital wallet and Visa card enabling customers to receive remittances as USDPT, a U.S. dollar stablecoin issued by Anchorage Digital Bank on the Solana blockchain. The product went live across 37 markets, with the company targeting 60 markets by year-end. Users can hold dollar-pegged USDPT balances and spend them at any Visa-accepting merchant via the linked card.

However, on-chain data shows approximately $5.9 million in USDPT currently in circulation, a fraction of Western Union's roughly $100 billion in annual cross-border transfers. The token represents an early-stage product against the company's vast remittance volume, though it positions Western Union to capitalize on stablecoin infrastructure that can reduce remittance fees from a global average above 6% to below 1%.