MoneyGram Launches Stablecoin-Backed Debit Card in Colombia via Stellar Blockchain

Payments giant MoneyGram has launched a new stablecoin-based debit card in Latin America, specifically in Colombia. The project is built on the Stellar (XLM) blockchain network and allows users to convert digital dollars directly into everyday purchases.

The virtual Visa card is available through the MoneyGram app after users complete identity verification (KYC). It can be instantly linked to Apple Pay or Google Wallet for contactless payments at any retailer that accepts Visa.

One of the key features of this Stellar-based architecture is automatic conversion at checkout. Customers hold their balances in USDC, which are instantly converted into fiat pesos at the moment of purchase for settlement through Visa's global network.