MoneyGram Launches Stablecoin-Powered Visa Card in Colombia
MoneyGram has launched its first Visa card powered by stablecoin balances in Colombia.
The new product supports USDC balances at launch, allowing users to spend their stablecoin balance wherever Visa is accepted and withdraw local currency from MoneyGram locations.
The digital card can be obtained via the MoneyGram app and managed within the app. Users can add the card to their mobile wallets for online or contactless payments.
MoneyGram plans to expand this product to other countries in Latin America, starting with a list of unspecified markets.
In the near future, the company will add its own dollar-pegged cryptocurrency, MGUSD, to the card. However, this asset is not currently available for use on the card.