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EN
Stablecoins Come to Money Transfers Via Western Union’s Stablecard
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Digital Transactions
The Western Union Co. and payments-technology developer Rain have launched a digital wallet and credit card that can enable money transfers using stablecoins from a card-linked account.
Stablecard is going live in 37 markets, according to Western Union, which says it plans to up that number to 60 by year’s end.
While the offer includes a digital wallet, the new coin can be added to other wallets such Apple Pay and Google Pay, according to Western Union, which says the wallet can also receive money transfers.
USDPT, or U.S. Dollar Payment Token, is pegged to the dollar, issued by Anchorage Digital Bank, and developed on the Solana blockchain by Western Union.
In launching the stablecoin and wallet, Western Union stresses what it sees as the utility stemming from the offer of two major payment networks.