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Saturday Dec 6 2025 12:40
2 min
Western Union has unveiled plans to introduce a new “stable card” to protect users in high-inflation economies, part of its broader stablecoin strategy. At the UBS Global Technology and AI conference, CFO Matthew Cagwin explained that this initiative builds upon the company's investor-day announcement, signaling a shift beyond traditional cross-border payments towards a multi-faceted digital asset roadmap.
Cagwin highlighted Argentina, where annual inflation has soared to 250-300%, emphasizing that remittances can lose nearly half their value within a month. "Imagine a scenario where your family in the US sends you $500 home, but by the time you spend it the following month, it's only worth $300," he illustrated.
"We see significant utility for our stable card there, effectively an increment to our existing prepaid card offering in the US," Cagwin added.
Cagwin also revealed Western Union's intention to issue its own stablecoin. He argued that the company's extensive distribution network spanning 200 countries provides a distinct advantage, particularly in emerging markets where remittances constitute a substantial portion of GDP. "We believe we can create a market for our coin in those regions. We want to control the economics, ensure compliance, and manage overall distribution, and we believe we can expand beyond that," he stated.
A key component of the company's digital asset strategy is the Digital Asset Network (DAN), connecting Western Union to four on- and off-ramp providers. The platform is slated to launch in the first half of 2025.
Western Union has confirmed that its forthcoming stablecoin settlement system will be built on the Solana (SOL) blockchain. The system will revolve around the US Dollar Payment Token (USDPT) and a novel Digital Asset Network developed in collaboration with Anchorage Digital Bank. USDPT is projected to launch in the first half of 2026, with distribution occurring through partner exchanges.
Furthermore, Western Union has filed a trademark application for “WUUSD,” indicating plans for a comprehensive suite of cryptocurrency services, including a wallet, trading functionalities, and stablecoin payment processing. The application has been accepted but is yet to be assigned to an examiner.
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