MoneyGram Launches Stablecoin-Backed Visa Card in Colombia

MoneyGram has launched its first stablecoin-backed Visa card in Colombia, enabling users to spend USDC. The digital MoneyGram Card allows customers to hold a balance and make online, in-store, or cross-border transactions. Users can also convert funds into local currency through MoneyGram's retail network.

The launch marks the first market for a product designed to reach more countries, according to Anthony Soohoo, Chairman and CEO of MoneyGram. The service combines balance management, spending, and cash access within one interface.

Customers can register for the card and manage their balance and spending through the MoneyGram app. Existing users can complete this process without moving to another service, reviewing transactions and controlling spending through the same account.