Rain:- Last week, the tradefi giant, Western Union announced its own U.S. Dollar Payment Token (USDPT) – a dollar-pegged stablecoin built on Solana and issued in partnership with Anchorage Digital Bank.
With this, the tradefi giant also revealed plans to launch the “Digital Asset Network” to connect wallets to its huge retail agent footprint so people can convert digital dollars into physical cash where they live.
Now, in a first major partnership, the banking giant has partnered with San Fransisco-based crypto startup Rain, the enterprise-grade stablecoin payments infrastructure provider.
.@WesternUnion USDPT and the Digital Asset Network, built on Solana.
Changing how the world’s money moves.https://t.co/FVobqBOUPA pic.twitter.com/RlHvOC3E6Z
— Solana (@solana) October 28, 2025
Rain And Western Union Partner
Under the partnership, Rain will integrate its infrastructure directly with Western Union’s Digital Asset Network. This will allow users holding stablecoins in Rain-powered wallets to redeem them for local fiat payouts at participating Western Union agent locations.
In this setup, Rain provides the digital plumbing – wallet, on-ramp, and off-ramp infrastructure – while Western Union will offer the physical cash payout points.
Western Union’s scale is key to the partnership’s potential. The banking giant operates in over 150 countries and territories. It has over hundreds of thousands of agent locations – one of the most extensive physical payout networks in global finance.
For millions of underbanked or cash-reliant users, this could be the first bridge between stablecoins and day-to-day financial access.
With the increasing real-world utility, it’s also a strategic response to the rapidly evolving stablecoin market, which has now surpassed $300 billion in circulating supply.
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How Stablecoins Become Spendable in Cash
The user experience, as part of the partnership, is designed to be straightforward:
1. A user holds stablecoins in a Rain-powered wallet.
2. They request a cash payout through the wallet interface.
3. Rain’s infrastructure triggers an on-chain conversion and securely notifies Western Union’s Digital Asset Network.
4. The nearest Western Union agent dispenses local currency, following standard identity and KYC checks.
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Explaining the partnership, Rain co-founder Farooq Malik said:
“Our job is to take stablecoins from sent to spent by making that value usable in the real world. Through our integration with the Digital Asset Network, stablecoin balances can be compliantly converted into local cash pay-outs at participating Western Union locations.”
The Stablecoin Race
Western Union’s move comes amid a wave of innovation in stablecoin-driven payment products. Phantom, the popular Solana wallet, recently announced Phantom Cash. It is a new consumer product, turning Phantom into a full “money app” that blends stablecoin wallets with traditional payment rails.
In Asia, major financial holding companies in South Korea are collaborating with tech giants such as Samsung Electronics, Naver, and Kakao to build stablecoin ecosystems. Japan launched its first yen-pegged stablecoin, while Korea is rolling out a WON-pegged version – both signaling that stablecoins are becoming an accepted part of regulated finance.
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