Western Union and Rain Launch Stablecoin-Backed Visa Card Across 37 Markets

Western Union and stablecoin payments infrastructure provider Rain launched Stablecard by Western Union on Aug 7, 2026, a digital wallet paired with a stablecoin-backed Visa credit card available in 37 markets. The product is built around USDPT, Western Union's dollar stablecoin pegged 1:1 to the U.S. dollar with full reserves. Users can receive funds into the wallet, store value as USDPT, and spend at any Visa-accepting merchant worldwide.

Rain provides the enterprise-grade infrastructure underpinning the wallet and card, including compliance and security controls. CEO Devin McGranahan said the product combines the stability of a dollar stablecoin with Western Union's global network and Visa's acceptance footprint. Rain CEO Farooq Malik said the product brings stablecoin payment capabilities to ordinary users who have never interacted with on-chain currencies.