Afghan startup HesabPay uses stablecoins to deliver humanitarian aid in conflict zones
HesabPay, an Afghan fintech startup, has developed a blockchain-based cash-transfer platform using digital wallets and stablecoins to deliver humanitarian aid in conflict-affected and banking-constrained regions. The company holds a formal Afghan financial license and runs more than 650,000 wallets (about 50,000 active), moving roughly $60 million per month in Afghanistan-anchored afghani stablecoins. Since February 2025 the UNHCR has used HesabPay to distribute nearly $25 million to about 86,000 Afghan households. Mercy Corps also uses the platform to send aid to recipients in Syria and is developing programs for Sudan and Haiti. Benefits cited include lower fees, faster disbursements, improved traceability and real-time monitoring via dashboards and automated compliance checks that flag suspected fraud, AML and sanctions risks. Risks remain: wallets and payment rails can be blocked for political or sanctions reasons, and locally pegged stablecoins carry currency and regulatory risk. For traders, the story highlights growing institutional adoption of stablecoins for cross-border payments and aid disbursements, emphasizes demand for dollar-backed stablecoins in fragile states, and underscores regulatory and sanction-related operational risks that can affect token flow and on-chain liquidity.
Neutral
This development is neutral-to-mildly bullish for stablecoin demand but does not create direct price pressure on major cryptocurrencies. Positive factors: institutional adoption by UNHCR and Mercy Corps demonstrates real-world utility for stablecoins in cross-border aid, likely increasing transactional demand—particularly for dollar-backed stablecoins in places like Syria. The transparency and traceability benefits can prompt more NGOs and governments to pilot blockchain payouts, expanding on-chain volumes for stablecoins. Offsetting factors: material operational risks (sanctions, political shutdowns, local peg instability) create episodic disruptions in token flow and could push organizations to prefer safer fiat rails or custodial arrangements, limiting widespread rapid adoption. Market impact: short-term—minimal price movement for major tokens; possible localized increases in stablecoin transfer volumes and demand for USD-pegged stablecoins. Long-term—greater use cases for stablecoins in payments and remittances could support steady transactional demand, but regulatory and sanction risks mean adoption will be incremental and uneven. Traders should watch: NGO and UN procurement announcements, regulatory or sanction actions affecting rails, on-chain transfer volumes for USDT/USDC and regionally issued stablecoins, and any wallet freezes or large redemptions that can change liquidity dynamics.