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FollowingMoneyGram launches USDC-based Visa card, and is the first to launch in Colombia.
MoneyGram International, the global leader in cross-border remittance, has launched MoneyGram Card, a new digital payment product that combines stablecoin technology with Visa compatibility. The card is currently launched as the first market in Colombia and plans to expand to more other countries in the coming months.
Stablecoin-driven payment cards
Unlike traditional debit cards tied to bank accounts, the MoneyGram Card allows users to recharge USD Coin (USDC) into their accounts and spend it anywhere Visa is accepted. This setting places stablecoin balances and illicit currencies at the heart of all transactions. Users can add this card to Apple Wallet or Google Wallet and use the "Pay as Touch" feature, which pays the same way as a regular Visa card. Existing MoneyGram app users can transition directly to the card without installing a new wallet or learning new processes.
To bring MoneyGram Card to market, the company collaborated with multiple partners: Rain, a payment infrastructure provider, handles the card system;Crossmint manages the digital wallet layer; and Stellar, a mature blockchain network, is responsible for the flow of underlying funds.
Noun explanation: Stellar is an open-source blockchain network designed to enable fast and low-cost cross-border payments. It is widely used by financial institutions and financial technology companies to achieve seamless global value transfer and asset issuance.
Anthony Soohoo, chairman and CEO of MoneyGram, emphasized: "We give our customers more freedom and control so they can manage money in one place." He described the release as a move built on the company's mature global payment network.
Colombia as a pilot market
Colombia is the first country to access MoneyGram Card. The company said it expects more markets to follow in the next few months, but specific countries have not yet been determined. Until later this year, only a digital version of the card was available;MoneyGram plans to subsequently launch physical cards to support ATM withdrawals and use at merchants that do not support digital wallets.
Currently, USDC is the only supported stablecoin for card transactions. MoneyGram's own MGUSD token announced earlier this year is also expected to join the product, but no specific timeline has been provided.
Integration of traditional functions with digital assets
MoneyGram continues to support cash withdrawal services, a business that has been at the heart of its 85-year business model. Cardholders can transfer money from their digital balances and arrange to withdraw cash at any of the world's nearly 500,000 retail outlets, maintaining continuity with the company's traditional business.
Even if stablecoin technology becomes part of daily transactions, physical payout locations and cash withdrawal services are still available, which supports MoneyGram's existing service network.
Extended blockchain integration and industry trends
This product release follows MoneyGram's continued expansion in blockchain-based payment services. Its Ramps product recently launched on Solana provides developers with new tools on different blockchain networks. Both Card and Ramps aim to make stablecoins easier to popularize by embedding them in familiar financial instruments.
Other countries and companies are exploring similar innovations. Uzbekistan recently launched a pilot project of a HUMO stablecoin pegged to its own currency, and new tokenized credit funds are also being created to fill financing gaps in various regions. These efforts reflect a broader trend towards leveraging blockchain tracks for real-world transactions.
The continued deployment of stablecoins in payment and credit products marks a broader model for blockchain technology to be integrated into the mainstream financial system. By reducing consumers 'need to understand technical details, companies like MoneyGram are working to make stablecoins a regular part of daily consumption.
