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- Western Union chose Noah to power its new USDPT stablecoin transfer service.
- Noah will manage advance funding, currency conversions, licensing, and compliance operations.
- Noah's announcement omits specific delivery times and customer fee details.
Western Union has selected Noah to power Receiver Redirect, a service that will deliver money transfers as USDPT stablecoins into recipients’ Western Union wallets.
USDPT is Western Union’s dollar-linked stablecoin. The service will connect its agent network with its digital wallet offering, giving recipients a way to receive and hold digital dollars.
Recipients Will Receive USDPT in Stablecard Wallets
Receiver Redirect will connect transfers sent through Western Union’s agent network to recipients’ Stablecard wallets. Customers will be able to keep the tokens after receiving a transfer, rather than immediately converting the funds into local currency.
Malcolm Clarke, Western Union’s global head of digital assets, stated:
“Customers increasingly want greater flexibility in how they receive, hold and use money.”
Stablecard users in supported markets can hold and transfer USDPT and spend through the linked Visa card. The app also supports transfers to and from compatible digital asset wallets and exchanges.
Noah Will Handle Funding and Currency Conversion
Noah will provide the systems used to fund transfers in advance, convert money and distribute USDPT. Its role also includes licensing and local regulatory compliance. The company is targeting transfers in more than 60 currencies across over 200 countries and territories through Western Union’s agent network.
Western Union provides the money transfer service, Noah supplies the payment infrastructure, and Anchorage Digital Bank issues USDPT on the Solana blockchain. Rain supplies Stablecard’s wallet and card infrastructure.
Noah says it aims to lower the cost and time of international transfers. Its announcement does not give customer fees or delivery times for specific routes.
USDPT and Stablecard Launched Earlier This Year
Western Union launched USDPT on May 4. Each token is redeemable for one US dollar and backed by reserves that include bank deposits, US Treasury bills and similar cash equivalents.
Stablecard followed on Aug. 4 through a partnership with Rain, pairing a USDPT wallet with a Visa secured credit card in 37 markets. The wallet included the option to receive Western Union transfers. At launch, the company targeted expansion to more than 60 markets by the end of 2026.
