Western Union Launches Stablecoin-Backed Visa Card in 37 Markets Through Rain Partnership

Western Union has partnered with stablecoin platform Rain to launch Stablecard, a digital wallet and Visa secured credit card, in 37 markets. The card allows users to receive remittances directly as USDPT, a Solana-based stablecoin issued by Anchorage Digital Bank, and spend it anywhere Visa is accepted. The launch represents Western Union's push into digital assets to counter a 1% decline in quarterly revenue to $1.0 billion, leveraging its growing digital transaction segment which rose 25% year over year.

Stablecard product launch

• ▪Western Union partnered with stablecoin infrastructure provider Rain to launch Stablecard, a digital wallet and Visa-branded secured credit card.
• ▪Stablecard launched initially in 37 markets, with Western Union planning to expand availability to more than 60 markets by the end of 2026.
• ▪Stablecard allows users to receive Western Union money transfers directly into a USDPT wallet and spend balances anywhere Visa is accepted.

USDPT circulation metrics

• ▪USDPT has approximately 7.4 million tokens in circulation held across 162 addresses, representing 0.05% of the stablecoins on Solana.
• ▪USDPT is a US dollar-backed stablecoin issued by Anchorage Digital Bank on the Solana blockchain and is redeemable 1:1 for US dollars.

Rain card infrastructure

• ▪Rain raised $250 million in a Series C funding round in January 2026 to scale its stablecoin payment infrastructure.
• ▪Rain provides the underlying enterprise wallet technology, payment infrastructure, and compliance framework for Western Union's Stablecard.

Visa secured credit mechanics

• ▪Western Union describes Stablecard as a USDPT-backed Visa secured credit card, but did not detail the specific mechanics, credit limits, or interest terms.
• ▪Stablecard users are required to complete identity verification, but no credit check or minimum account balance is required to access the service.

Western Union revenue decline

• ▪Western Union's second-quarter GAAP revenue declined 1% year over year to approximately $1.0 billion, sending its shares to a 52-week low.
• ▪Western Union cut its full-year adjusted earnings guidance to a range of $1.25 to $1.35 per share, down from the $1.75 to $1.85 range.

Digital transaction growth

• ▪Western Union's digital revenue increased 7% year over year during the company's latest quarterly results.
• ▪Western Union's branded digital transactions rose 25% year over year, now accounting for 43% of all consumer money transfer transactions.