Talking on the UBS World Know-how and AI convention final week, Western Union chief monetary officer Matthew Cagwin mentioned the initiative would assist protect the worth of remittances by appearing as a secure different to quickly depreciating native currencies.
“Think about a world the place your loved ones within the US is sending you $500 house, however by the point you spend it within the subsequent month, it’s solely price $300,” mentioned Cagwin, citing Argentina as a major instance of a rustic with inflation-related issues with inflation over 30%.
“We will see a great utility for our secure card there, which is an increment to our pay as you go card now we have at the moment right here within the US.”
Tackling Inflation With Stablecoins
The corporate can also be growing its personal crypto token and leveraging its presence in 200 international locations to create distribution benefits over typical crypto tasks.
This initiative is a part of a broader digital asset technique that features its Digital Asset Community infrastructure connecting to on/off-ramp suppliers and stablecoin settlements.
“We predict that we will make a marketplace for our coin in these markets, and we needed to have the ability to management the economics, management the compliance, and management the general distribution, and we expect we will develop that past that,” Cagwin mentioned.
JUST IN: Western Union to launch a crypto card preloaded with USD stablecoins.
The cardboard will enable customers to retailer cash in stablecoins, holding their financial savings’ worth even when native foreign money drops from inflation. pic.twitter.com/El0YdsDAIo
— Felix (@Punk1402) December 6, 2025
Western Union introduced its plan to launch US greenback Fee Token (USDPT), its new stablecoin, in late October. It additionally introduced a Solana-based “Digital Asset Community designed to bridge the digital and fiat worlds.”
“As we evolve into the digital belongings house, Western Union’s USDPT will enable us to personal the economics linked to stablecoins,” mentioned Devin McGranahan, President and CEO of Western Union on the time.
Inflation Soars In These International locations
Venezuela has the best inflation on this planet at 172%, in response to Buying and selling Economics. South Sudan additionally has triple-figure inflation.
Iran, Haiti, Argentina, and Turkiye all have excessive inflation, starting from 30% to 45%. Inflation additionally stays persistently excessive in lots of developed international locations, such because the UK, Russia, Austria, and Australia, following the pandemic lockdowns.
One other downside is that authorities and central financial institution inflation figures are sometimes undermeasured and infrequently mirror actuality. They don’t embody day-to-day bills equivalent to groceries and power payments, that are continually growing in most international locations.
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