MoneyGram launches first stablecoin-backed Visa card in Colombia

MoneyGram has launched its first stablecoin-backed Visa card, debuting the digital product in Colombia with plans to expand across Latin America. Developed with Rain, Crossmint, and Stellar, the card supports USDC at launch and will later integrate MoneyGram's MGUSD. Users can manage balances in-app, use mobile wallets, or withdraw local currency at MoneyGram's 500,000 physical locations, bridging digital assets with cash.

MoneyGram stablecoin Visa card launch

• ▪The MoneyGram Card is stablecoin-backed and is not a traditional bank account or fiat-currency balance.
• ▪The MoneyGram Card supports Circle's USDC stablecoin at launch, with plans to integrate MoneyGram's proprietary MGUSD stablecoin in the near future.
• ▪MoneyGram launched its first stablecoin-backed Visa card on September 10, 2026, initially available to eligible customers in Colombia.

Card functionality features

• ▪MoneyGram plans to launch a physical version of the card in late 2026 to enable ATM withdrawals and in-person purchases.
• ▪MoneyGram Card users can transfer funds from their balance to themselves to pick up local currency at any of MoneyGram's physical retail locations.
• ▪The MoneyGram Card is available digitally inside the MoneyGram app, allowing users to manage balances and add the card to Apple Wallet or Google Wallet.

Technical infrastructure partnerships

• ▪The MoneyGram Card was developed in collaboration with stablecoin payments infrastructure firm Rain, digital wallet provider Crossmint, and the Stellar blockchain network.
• ▪MoneyGram participates in Open USD, a stablecoin project by Stripe that distributes revenue among its partner network.
• ▪MoneyGram's proprietary MGUSD stablecoin is issued by Bridge, a stablecoin technology provider owned by Stripe.

Colombia initial market rollout

• ▪Colombia is the first active market for the MoneyGram Card, where customers must complete a know-your-customer process to be eligible.
• ▪MoneyGram operates a global network of more than 60 million active customers and nearly 500,000 retail locations across more than 200 countries and territories.

MoneyGram stablecoin integration history

• ▪MoneyGram has worked with stablecoins since 2021, when it partnered with the Stellar Development Foundation to support cash-to-USDC and USDC-to-cash conversions.
• ▪MoneyGram previously offered a fiat-based account with physical and digital Visa debit cards issued by Pathward, which was discontinued in December 2025.

Debatable claims

• ▪Payment companies should not issue proprietary stablecoins
• ▪MoneyGram's stablecoin card is a viable alternative to traditional banking in Colombia