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Western Union Fights Inflation With New “Stable Card” for Remittances

Key Takeaways

  • Western Union launched a “stable card” to protect remittances from inflation in countries like Argentina, where prices soared 250% to 300%;
  • The firm plans to roll out its own Solana-based stablecoin, USDPT, which enables faster, more secure global transfers;
  • Its new Digital Asset Network (DAN), due in early 2025, will bridge fiat and crypto through four service providers for smooth currency exchange.

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Western Union Fights Inflation With New “Stable Card” for Remittances

A new offering from Western Union, a money transfer company, addresses remittance challenges in areas where local currencies could lose value fast.

A "stable card" has been introduced to help people in countries with high inflation, such as Argentina, where prices have risen by 250% to 300% over the past year.

In a December 6 announcement, Western Union highlighted that remittances could lose nearly half their value in just a few weeks, as illustrated by a family receiving $500 that might have only $300 left by the time the funds are spent.

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Alongside that initiative, the company confirmed plans to issue its own stablecoin. It cited its global network spanning more than 200 countries.

The digital asset plan includes a platform called the Digital Asset Network (DAN), designed to help users exchange between traditional money and crypto.

During the announcement, it was noted that DAN will connect with four service providers to support this conversion process and is expected to be operational in the first half of 2025.

The stablecoin will be built on the Solana SOL $134.90 blockchain and will be called USDPT. Its release is scheduled for the first half of 2026, and distribution will involve partnerships with cryptocurrency exchanges.

Matthew Cagwin, the company's chief financial officer, spoke at the UBS Global Technology and AI conference that the strategy is meant to give the company more oversight than relying on third parties to issue and manage the digital asset.

On December 2, Unlimit, a financial technology firm focused on payment services, introduced a new platform built to serve as a clearing hub for stablecoins. How does it work? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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