MoneyGram Brings Stablecoin Spending to Visa Card

MoneyGram has launched its MoneyGram Card, which allows customers to spend stablecoin balances at any Visa-accepting merchant. The card uses USDC as its underlying stablecoin and is currently available only in Colombia.

The card's mechanics are handled by three separate partners: Rain provides the card infrastructure, Crossmint handles the wallet layer, and Stellar moves the funds. Users can load USDC onto their card balance and spend it like regular cash without having to worry about conversions.

MoneyGram says other markets will follow in the coming months, but has not named any specific countries yet. The company's Chairman and CEO, Anthony Soohoo, framed the launch as an extension of MoneyGram's existing cross-border money transfer business, giving customers more freedom and control over their finances.