Western Union USD Pegged Debit card for countries with high inflation

Western Union is working on a stable coin card whose value will be pegged to US dollar. This is being made for countries with high inflation. CFO Matthew Cagwin stated at the UBS Global Technology and AI Conference that the product aims to help users protect purchasing power from rapid currency depreciation.

For example, in Argentina, where inflation exceeded 200% last year, a USD-pegged stablecoin card helps preserve value. Western Union also plans to launch the USD stablecoin USDPT on Solana in early 2026. USDPT will be issued by Anchorage Digital on the Solana network.

Western Union is very serious about the project and already working to collaborate with myriad on- and off-ramps. The final aim is very simple—to reduce dependence on the banking system and speed up settlement of funds.

We are not sure how many countries will actually allow users to own this. But, if given a choice to the users, we are sure the Western Union USD Pegged Debit card will get immensely popular in no time.

TenX offered a similar solution in 2017/2018, but the regulations between various countries never allowed it to gain traction.