- Daily payments through HesabPay are quietly facilitating large-scale Algorand usage across Afghanistan’s utility ecosystem.
- The HAFN stablecoin has reached a market value of over 122 million yen while processing an on-chain transaction volume of nearly 1 billion last year.
HesabPay has become one of Afghanistan’s leading digital payment applications. We currently support over 30% of all electricity bill payments in the country through Algorand. This shows that while blockchain infrastructure quietly plays a central role in Afghanistan’s payments system, users are not required to understand or directly interact with the underlying technology.
The market value of HAFN, an Afghan-denominated stablecoin issued solely by HesabPay on Algorand, has reached over $122 million. There are over 78,000 on-chain holders. In the past year alone, approximately $1 billion worth of transactions using HAFN were recorded on Algorand.
HesabPay originally began as a response to humanitarian crises, providing an interoperable payment solution for organizations providing aid. More than a dozen humanitarian organizations, including the World Food Program, are using the platform to send money to beneficiaries in Afghanistan.
HesabPay is a great entry point for $ALGO adoption and could be a massive catalyst in the coming years.
Every week, tens of thousands of *real* people are already trading on Algorand without even knowing it. 🫡$HAFN, the largest AFN stablecoin issued by @HesabPay_… pic.twitter.com/9eGjGIEd0b
— Rex | france.algo (@algerstmehn) December 17, 2025
HesabPay powered by Algorand targets new markets
HesabPay started as a platform for distributing aid, but since then HesabPay’s capabilities have grown. Users can now buy airtime, pay fees, and transfer digital funds. Senzar Kakar, founder of HesabPay, said:
“Algorand’s transaction fees are very low and stable. Payments are very fast and the network never goes down, making it the perfect solution for our needs.”
This reliability has allowed HesabPay to become the go-to tool for actual financial activities in countries with limited infrastructure.
The platform is currently preparing to expand into nearby markets. Syria is one of the first external targets. This potential entry into new regions suggests broader uses for stablecoin-backed payments and cross-border support for the unbanked.
Developments underway on the Algorand network
As previously reported by CNF, Algorand was integrated into Wormhole’s Native Token Transfer (NTT) standard on July 1st. This change connects Algorand to Wormhole’s cross-chain network, supporting transfers between over 40 blockchains. The project was developed in collaboration with Folks Finance, which has the largest share of Total Value Locked (TVL) among Algorand-based lending protocols.
To increase on-chain participation, the foundation launched a 13-week campaign called Algoland on September 22nd. The campaign will end on December 29th and will instruct users to complete tasks such as exchanging tokens and minting NFTs. The Foundation plans to announce the winners on January 4, 2026.
At the time of writing, ALGO is trading at the following prices: $0.1112, 2.41% Decline in the last 24 hours. Nevertheless, daily trading volume increased by more than 15% to $43.11 million.
