With the introduction of stable cards, Western Union has taken an ambitious step towards stablecoins. With the new strategic move, they specifically target consumers living in high-inflation economies who are struggling with the rapid devaluation of their money and investments.
Western Union’s new service would fight inflation with Stabilcoin
Western Union is an important step act towards stablecoins. They presented the ‘stable card’ and a plan to introduce their own stablecoin to provide a secure solution to residents of economies struggling with high inflation.
At the UBS Global Technology and AI conference, Matthew Cagwin, director of the global financial services firm, said they want to move beyond traditional boundaries, for which there are already plans to develop a multi-pillar roadmap for digital assets.
“Imagine a world where our family in the US sends us $500, but by the time we spend it the next month, it’s only worth $300.”
Cagwin said, referring to countries like Argentina, where annual inflation is 250-300%. What is most shocking is that these figures are still considered good in Latin America, while in Europe inflation of 15-20% is also causing serious concerns.
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Solana was chosen for the stablecoin
Western Union would build its own stablecoin on Solana’s blockchain. The core of the system will be the US Dollar Payment Token, USDPT, whose network is being developed by Anchorage Digital Bank. The new stablecoin is expected to arrive in the first half of 2026 and be launched on partner exchanges.
They also announced the registration of the trademark ‘WUUSD’, indicating that the company plans to introduce more crypto services. So it is possible that Western Union will also offer portfolio and trading services next year.
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