Western Union launches Stablecard

Western Union has launched a digital wallet and stablecoin-backed Visa secured credit card designed to enable users to hold, move and spend US dollar value globally.

Stablecard offers a consumer-friendly way to receive funds and store value in USDPT, Western Union's recently-launched US dollar stablecoin, in a digital wallet. Users can spend funds seamlessly anywhere Visa is accepted and USDPT is redeemable 1:1 for US dollars and is fully backed by reserves, Finextra reports.

Devin McGranahan, president and CEO, Western Union, says: “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.”

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