MoneyGram Joins Stablecoin Debit Card Ranks with Visa Partnership

MoneyGram has joined forces with Visa to launch a stablecoin debit card in Colombia. The virtual card will be available through Apple Wallet or Google Wallet and will later expand to physical cards in other markets.

This move follows Western Union's similar announcement last month, also partnering with Rain on its Stablecard. MoneyGram launched its MGUSD stablecoin on Stellar in June, integrating it with its proprietary app using a self-custodial wallet.

The World Bank identified stablecoins as key to reducing global remittance costs, citing debit cards as the lowest-cost instrument at 3.61% of transmitted amounts. MoneyGram's expansion into stablecoins aims to improve cross-border payments.