Western Union is constructing a stablecoin-backed pay as you go card focusing on international locations with excessive inflation charges.
Abstract
- Western Union is making a stablecoin-backed pay as you go card for inflation-heavy economies.
- The USDPT token on Solana launches in 2026, integrating with the agency’s remittance community.
- Partnership with Rain permits Visa stablecoin playing cards and crypto-to-cash conversions.
The cash switch big plans to supply the product in markets the place native forex depreciation erodes buying energy, CFO Matthew Cagwin instructed the UBS International Expertise and AI convention.
Cagwin pointed to Argentina as a major use case, the place inflation exceeded 200% final yr. The dollar-denominated card would assist protect worth for remittance recipients in economies going through speedy forex devaluation.
Rain partnership brings Visa stablecoin playing cards
Western Union has partnered with Rain to problem Visa playing cards linked to stablecoins. The collaboration permits customers to transform digital property saved in wallets linked to Rain’s platform into native money at Western Union branches.
The corporate is constructing on-ramps and off-ramps inside its digital asset community to scale back banking system dependence and speed up fund settlement. “We’re working with a number of suppliers to construct this infrastructure,” Cagwin said.
Western Union plans to launch the US Greenback Fee Token (USDPT) in 2026, a stablecoin issued by Anchorage Digital on the Solana community. The token will combine with the corporate’s broader digital asset technique.
The pay as you go card will operate as a bridge between stablecoins and on a regular basis spending in high-inflation economies.
Customers obtain remittances loaded onto playing cards denominated in {dollars}. The playing cards may be spent at retailers or withdrawn as money at Western Union areas.
Firm reverses decade-long crypto skepticism
Western Union maintained a dismissive stance towards cryptocurrencies for years. In 2017, Chief Expertise Officer David Thompson questioned Bitcoin’s viability as forex, evaluating crypto to commodities relatively than practical cash.
The corporate argued that digital property lacked governance, compliance, and stability for mainstream adoption.
The place modified in late 2025 after clearer regulatory frameworks surfaced. CEO Devin McGranahan stated historic warning stemmed from “considerations round volatility, regulatory uncertainty, and buyer safety.”
Different stablecoin information
Pakistan introduced plans to launch its first stablecoin as a part of efforts to combine digital property into the financial system.
Bilal Bin Saqib, chairman of Pakistan Digital Belongings Regulatory Authority (PVARA), instructed Binance Blockchain Week in Dubai that the nation is “undoubtedly” launching a stablecoin.
“I believe it’s an effective way to collateralize the federal government debt,” Saqib stated. “We need to be on the forefront of this monetary digital innovation. Why ought to we be on the tail-end of it when we’ve the muscle and the adoption?”
PVARA is engaged on Central Financial institution Digital Currencies alongside stablecoin growth. Saqib unveiled Pakistan’s Strategic Bitcoin Reserve earlier this yr and the federal government allotted 2,000 megawatts of electrical energy for Bitcoin mining and AI information facilities in Might.
