Western Union Launches Stable Card and Plans Own Coin for High-Inflation Markets
Western Union is introducing a stable card designed to protect users in high-inflation economies from currency devaluation. The card, an upgrade to its existing U.S. prepaid offering, will leverage blockchain technology to preserve the value of remittances. Argentina, where annual inflation exceeds 250%, serves as a key use case—receivers of cross-border payments often see funds lose 40% of purchasing power within weeks.
The company also revealed plans to issue a proprietary digital token for global remittances, capitalizing on its network spanning 200 countries. A Digital Asset Network (DAN) is under development to integrate these solutions with Western Union's payment ecosystem. "When $500 becomes $300 before it's spent, families need armor against inflation," CFO Matthew Cagwin told the UBS Global Technology and AI conference.
