Western Union eyes inflation-resistant ‘stable cards’ as part of its stablecoin strategy

Western Union is developing a multi-pillar stablecoin and digital asset strategy, which includes introducing a "stable card" designed to protect users in economies with high inflation, such as Argentina where inflation can reach 250-300%.

CFO Matthew Cagwin stated this stable card will be an enhancement to their existing prepaid card. Furthermore, Western Union intends to issue its own coin, leveraging its global distribution network across 200 countries, particularly in emerging markets where remittances are crucial to GDP, allowing the company to control economics, compliance, and distribution.

The company's broader strategy includes its Digital Asset Network (DAN), expected to launch in the first half of 2025, linking Western Union to four on-ramp/off-ramp providers. The stablecoin settlement system will utilize the Solana blockchain, centering on the US Dollar Payment Token (USDPT), which is slated for a first-half 2026 launch through partner exchanges. Western Union has also filed a trademark for "WUUSD," indicating plans for a suite of crypto services.

(Source：Cointelegraph)