Are Stablecoins the Next Frontier for Humanitarian Cash Transfers or Just the Latest Promise?

More than US$10.5 billion in cash assistance was delivered globally in 2022, according to the CALP Network. Yet the places with the greatest need are often the hardest to reach. Banks often pull out of high-risk regions, fees and foreign exchange margins can be opaque, and transfers can take days. 

In this episode, we ask whether stablecoins, now used by some humanitarian agencies, can fix these problems. We explore what stablecoins are, how they are regulated, and what happens when they meet the realities of crisis response. 

Guests 

• Ezechiel Copic, Director for Digital Currency Policy, Visa 

• Mercina Tillemann Perez, Vice President of Global Impact, Circle 

With a contribution from Ana Rosario Contreras, President, Caracas Nurse's Association and stablecoins user 

Resources mentioned 

• CGAP’s Stablecoins in Humanitarian Cash Transfers 

• Earlier Inclusive Finance Frontiers episode, “Will Central Bank Digital Currencies e a Game-Changer for Financial Inclusion?” 

  On Spotify: https://open.spotify.com/episode/3gHOGVkb2kNFOWFYQDTYOk?si=MwOdWUrUSO-x1mBAbN_pcw

  On Apple Podcast: https://podcasts.apple.com/us/podcast/beyond-the-payroll-expanding-pension-coverage-to/id1057974369?i=1000796325800

  On Soundcloud: https://on.soundcloud.com/LTgUx8EluzMlXGR00z

• CALP Network's State of the World's Cash

• Bank for International Settlements (BIS) Project Agora 

Producer: Lamis Daoud, CGAP External Affairs Officer Audio Editor and Sound Producer: Samantha Malhotra, World Bank Group Interactive Media Program Executive Producer: Jahda Swanborough, CGAP Communications Lead © CGAP/World Bank Group, 2026