The card will be preloaded with stablecoins.
Additionally, Western Union is exploring the development of its own stablecoin.
Western Union is developing a card preloaded with stablecoins aimed at countries with high inflation, as part of a broader strategy to integrate digital assets into its services.
According to the company’s chief financial officer, Matthew Cagwin, who speak during the UBS Global Technology and AI conference, the product seeks offer greater stability of purchasing power. Above all, in economies where monetary depreciation is pronounced.
Cagwin cited Argentina as an example, recalling that the South American country record inflation rates over 200% last year. In this context, a card denominated in dollars could help preserve value for those who receive remittances, according to the manager.
He explained that this instrument It will be an extension of the existing prepaid card in the United States. Although it will be adapted to markets where the volatility of the local currency affects daily consumption.
The project is related to Western Union’s alliance with Rain, a company that issues Visa cards linked to stablecoins. Rain indicated that the collaboration will allow these assets stored in wallets linked to its platform to be converted into local cash at participating branches.
As reported by CriptoNoticias, the company is also working on the launch of US Dollar Payment Token (USDPT), a stable currency issued by Anchorage Digital on the Solana network, scheduled for 2026.
According to Cagwin, Western Union is already collaborating with several providers to build on- and off-ramps within its digital asset network, with the goal of reduce dependence on the banking system and accelerate the settlement of funds.