Western Union is preparing to launch a stablecoin-linked prepaid Visa card aimed at customers in countries suffering from extreme inflation, CFO Matthew Cagwin said during the UBS Global Technology and AI conference.
The card will be especially valuable in markets like Argentina, where inflation surpassed 200% last year and rapidly erodes purchasing power. The product, developed in partnership with Rain, will allow users to convert digital assets stored in Rain-linked wallets into local cash at Western Union branches.
The dollar-denominated card is designed to protect remittance recipients from currency depreciation and provide greater financial stability in volatile economies.
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