Humanitarian Payments Council Highlights Stablecoin Progress

Stablecoins took center stage at the 3rd annual Humanitarian Payments Council (HPC) in Washington, D.C., as leaders from the humanitarian, finance, and technology sectors discussed their growing role in aid delivery. This year’s meeting marked a shift from theoretical discussions to actionable solutions, with real-world deployments like UNHCR’s use of Algorand (ALGO)-powered HesabPay to deliver over $35 million in aid to Afghan refugees highlighted as proof of concept.

Participants, including Circle, Mercy Corps Ventures, and the World Food Programme, emphasized that stablecoins—such as USDC and USDT—offer key advantages in crisis contexts. These include faster cross-border settlements, reduced foreign exchange volatility, enhanced transparency through on-chain tracking, and financial inclusion for unbanked populations. Recent pilots, like the German government’s use of USDC in Syria this June, further underscore their utility in high-inflation or weak banking environments.

However, the Council acknowledged persistent operational challenges. While stablecoins enable near-instant payments, reliable on- and off-ramp infrastructure remains limited in many regions where aid is most needed. Additionally, there’s a lack of rigorous, end-to-end data comparing stablecoin payment systems with traditional banking networks. Treasury teams and donors are also cautious, requiring clearer evidence of compliance, cost savings, and scalability before committing to broader adoption.

A key takeaway from the discussions was the importance of messaging. “Treasury teams and policymakers aren’t interested in blockchain jargon; they care about outcomes,” one panelist noted. The focus must shift to how stablecoins can solve specific pain points—whether it’s cutting transaction times from days to minutes or improving the traceability of funds disbursed in conflict zones.

Another theme was the need to move beyond isolated pilot projects. Participants called for greater collaboration among NGOs, donors, and financial institutions to scale existing solutions and document outcomes. Case studies, practical implementation guides, and transparent evidence-sharing were identified as critical tools to build trust and drive adoption.

The meeting also celebrated milestones achieved since last year’s gathering in Berlin. UNHCR’s expanded use of HesabPay in Afghanistan was a standout example, supporting over 625,000 refugees and internally displaced persons with digital cash transfers. Such real-world implementations are essential to demonstrating that stablecoin-based systems can operate at scale.

Stablecoins have gained significant traction in the humanitarian space throughout 2026. UNICEF recently announced that its CryptoFund would expand to include stablecoins, building on earlier cryptocurrency initiatives. Mercy Corps Ventures has also piloted USDC-based payment rails in Northeast Syria to mitigate liquidity risks, while global stablecoins like USDT and USDC continue to trade near parity with the U.S. dollar, reinforcing their reliability as low-volatility digital cash equivalents.

Looking ahead, the Humanitarian Payments Council has set clear priorities for the next year: generating better data to support adoption, improving coordination across stakeholders, refining messaging for policymakers, and scaling successful implementations. With stablecoins increasingly seen as complementary to traditional banking systems, their role in delivering aid to the most vulnerable populations appears poised to grow.

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