Western Union stable card, $1.44B reserve, Poland crypto veto
Today’s crypto developments included Western Union outlining plans for a “stable card” aimed at high-inflation markets, Strategy establishing a $1.44 billion USD reserve to address investor concerns during a Bitcoin downturn, and Polish lawmakers failing to overturn a presidential veto of a crypto-asset bill.
Western Union plans inflation-focused ‘stable card’ within its stablecoin strategy
Western Union intends to launch a new “stable card” designed to help users in high-inflation economies preserve value, according to chief financial officer Matthew Cagwin. Speaking at the UBS Global Technology and AI conference, Cagwin said the initiative expands on the firm’s investor-day disclosure that it is moving beyond traditional cross-border transfers to a multi-pronged digital asset strategy.
Cagwin cited Argentina, where annual inflation recently reached 250–300%, noting that remittances can lose nearly half their value within a month. He referenced a scenario where a $500 transfer might effectively be worth $300 by the time it is spent, adding that the company sees clear utility for a stable-value card in such markets. The card would complement Western Union’s existing prepaid offerings in the United States.
Strategy raises $1.44B to counter ‘FUD’ during Bitcoin down cycle, CEO says
Strategy CEO Phong Le said the company built a $1.44 billion USD reserve to ease investor concerns amid a Bitcoin slump, explaining on CNBC’s Power Lunch on Friday that the firm sought to put U.S. dollars on its balance sheet to address “FUD.”
The company announced the reserve on Monday, funded via a stock sale. Strategy said the funds are intended to cover at least 12 months of dividend payments, with plans to extend the runway to 24 months. Le added that while the company did not expect issues meeting its dividend obligations or needing to sell Bitcoin, speculation had emerged suggesting otherwise. He said the firm raised $1.44 billion in eight and a half days — equivalent to 21 months of dividend obligations — both to address investor concerns and to demonstrate its ability to raise capital during a Bitcoin down cycle.
Polish parliament fails to override veto of crypto-asset legislation
Poland’s lower house did not secure the three-fifths majority required to overturn President Karol Nawrocki’s veto of the Crypto-Asset Market Act, delaying the country’s plans to regulate its digital-asset sector. Bloomberg reported Friday that the bill, backed by Prime Minister Donald Tusk’s government, aimed to align Poland with the European Union’s MiCA framework. The legislation was introduced in June but was blocked last week when the president said it could threaten citizens’ freedoms, property, and state stability.
With the veto upheld, the measure will not advance, and the government will need to restart its legislative process. The proposal has divided policymakers and industry stakeholders. Supporters have framed it as a national security initiative to curb fraud and limit potential misuse of crypto assets by foreign actors, including Russia, according to Bloomberg. Industry groups opposing the bill argued that its licensing requirements, compliance costs, and potential criminal liability for executives could deter startups, stifle innovation, and weaken Poland’s competitiveness.
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