HesabPay Deploys AFN Stablecoin on Algorand and Moves $60M Monthly
Licensed fiat-backed rail provides traceable humanitarian aid to 650,000 wallets and expands operations across fragile states.
Web3 Wavefronts - Digestible News on Crypto, DeFi and AI · theWeb3.news
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Show Notes
HesabPay issues a fiat-backed AFN stablecoin and settles transactions on the Algorand blockchain, moving about $60 million per month to approximately 650,000 active wallets. The company holds reserves in custody, supports feature-phone and low-bandwidth wallets, and operates an agent network for cash-out. Since February 2025 UNHCR distributed nearly $25 million to more than 80,000 returning families using HesabPay wallets, and NGOs including Mercy Corps reported shorter wait times at distribution points, lower transaction costs compared with cash programs, and cleaner reconciliation via on-chain records and real-time dashboards. On-chain analytics map fund origins, recipient wallets, and spend patterns, automated systems flag unusual behaviors, and licensed fiat custody supports audits and regulator checks. HesabPay operates in Afghanistan, is active in Syria, and plans deployments in Sudan and Haiti, with each deployment requiring local agent networks, bank partners, and sanctions screening. Operational risks include local currency volatility, stablecoin-to-cash conversion timing, agent cash float, telecom outages, uneven SIM coverage, variable identity verification processes, and policy or sanctions changes that can stall deployments, and programs that combine liquidity strategies, offline workflows, and compliance analytics have more predictable scaling outcomes.
Source: https://web3businessnews.com/crypto/hesabpay-afghanistan-blockchain-aid/
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