MoneyGram Integrates Blockchain With Traditional Remittance Services
MoneyGram has launched its MoneyGram Card in Colombia, allowing eligible customers to spend from a stable-dollar balance directly through the company's app. The card is part of a larger strategy to integrate blockchain technology with traditional financial services.
The MoneyGram Card uses infrastructure provided by Rain, Crossmint, and Stellar, but its physical network gives it an advantage over digital-only wallets and cards. MoneyGram's large retail network allows customers to move easily between digital dollars, card payments, and cash without leaving the ecosystem.
Eligible users can sign up for the digital Visa card inside the MoneyGram app and add it to Apple Wallet or Google Wallet. The card can be used for online and contactless purchases wherever Visa is accepted.
The company's existing stablecoin service in Colombia allows transfers from the U.S. to be delivered as USDC, which recipients can hold digitally or convert into Colombian pesos through MoneyGram locations. The new card adds another choice: recipients can spend directly from that balance instead of first converting it into local currency.