Western Union (NYSE: WU) stock is drawing market attention after the company announced on Aug. 5 that it had partnered with stablecoin infrastructure provider Rain to launch “Stablecard,” a stablecoin payment product that combines a digital wallet with a Visa card and uses the U.S. dollar stablecoin USDPT on the Solana blockchain. The initial rollout is available in 37 markets, with the goal of expanding to more than 60 markets by year-end.
Stablecard Features: USDPT Digital Wallet with Visa
Western Union Stablecard combines a digital wallet with a physical or virtual Visa card, allowing remittance recipients to hold USDPT, a U.S. dollar stablecoin, directly and spend it through existing payment networks.
The three core features of Stablecard are as follows:
Receive Remittances: Western Union remittances can be deposited directly into the USDPT digital wallet
Transfers: Funds can be transferred to compatible crypto wallets and exchanges
Spending: Spend anywhere Visa is accepted, including through Apple Pay and Google Pay
USDPT Technical Specifications: Officially Launched in May 2026
USDPT is a U.S. dollar stablecoin issued by Anchorage Digital Bank and deployed on the Solana blockchain. Western Union officially launched USDPT in May 2026, positioning it as a payment stablecoin compliant with the GENIUS Act. In June 2026, crypto exchange Bybit began supporting USDPT trading and transfers, expanding USDPT’s circulation ecosystem.
Competitive Landscape: MoneyGram Launches Stellar-Based MGUSD
Western Union’s longtime rival MoneyGram has also launched its own stablecoin, MGUSD, issued on the Stellar network and integrated into the MoneyGram App’s self-custodial wallet. The integration allows users to hold dollar-denominated assets, make cross-border transfers, and convert them into local currencies. The simultaneous entry of the two cross-border payment giants into the stablecoin market shows that the traditional remittance business is being reshaped by crypto infrastructure.
Bank of Italy Research: Stablecoin Remittances May Not Outperform Traditional Channels in Cost and Speed
The Bank of Italy’s latest research indicates that stablecoin remittances may not consistently outperform traditional remittance channels in terms of cost and speed. The research attributed this mainly to friction in fiat on/off-ramps: conversions between bank deposits, cash, and digital assets still account for most transaction costs and settlement delays.
The research concluded that the real breakthrough for stablecoin-based cross-border payments lies not in blockchain technology itself, but in improving the efficiency of fiat integration at both ends.
FAQ
How many markets is Western Union Stablecard currently available in?
According to Western Union’s official announcement on Aug. 5, 2026, Stablecard was initially launched in 37 markets, with the goal of expanding to more than 60 markets by year-end.
Which stablecoin does Western Union Stablecard use?
Stablecard uses the U.S. dollar stablecoin USDPT, issued by Anchorage Digital Bank and deployed on the Solana blockchain. Western Union officially launched USDPT in May 2026, positioning it as a payment stablecoin compliant with the GENIUS Act.
What product did MoneyGram launch in the stablecoin sector?
MoneyGram launched the stablecoin MGUSD, issued on the Stellar network and integrated into the MoneyGram App’s self-custodial wallet. The integration allows users to hold dollar-denominated assets, make cross-border transfers, and convert them into local currencies.
