Western Union is cooking up something big lately—a prepaid stablecoin card is on the way. Their CFO, Matthew Cagwin, spilled the beans a few days ago at the UBS tech conference, saying this product is specifically aimed at regions with high inflation.
The idea is pretty straightforward: if your local currency is tanking like a roller coaster, holding stablecoins at least helps maintain your purchasing power. Argentina is the classic example—last year, inflation there skyrocketed to outrageous levels, and the peso people held was basically worthless.
If this card actually launches, it could be a solid hedging tool for markets like Latin America and Turkey, where currencies have been depreciating for a long time. But whether Western Union can really pull this off will depend on how regulators in each country view stablecoin payments.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
10 Likes
Reward
10
3
Repost
Share
Comment
0/400
MetamaskMechanic
· 12h ago
This move by Western Union is quite interesting, but can Argentinians really use it... will it pass regulatory scrutiny?
View OriginalReply0
DAOdreamer
· 12h ago
Western Union really got it right this time. People in high-inflation countries have long been battered by their own currencies.
View OriginalReply0
BearMarketSunriser
· 12h ago
Argentina should have started using this kind of thing a long time ago. Nobody wants pesos anymore.
Western Union is cooking up something big lately—a prepaid stablecoin card is on the way. Their CFO, Matthew Cagwin, spilled the beans a few days ago at the UBS tech conference, saying this product is specifically aimed at regions with high inflation.
The idea is pretty straightforward: if your local currency is tanking like a roller coaster, holding stablecoins at least helps maintain your purchasing power. Argentina is the classic example—last year, inflation there skyrocketed to outrageous levels, and the peso people held was basically worthless.
If this card actually launches, it could be a solid hedging tool for markets like Latin America and Turkey, where currencies have been depreciating for a long time. But whether Western Union can really pull this off will depend on how regulators in each country view stablecoin payments.