MoneyGram Rolls Out Stablecoin-Backed Visa Card in Colombia
MoneyGram has launched its first stablecoin-backed Visa card in Colombia, marking a significant shift for the 86-year-old remittance giant. The new product allows customers to hold a stable-dollar balance and spend it anywhere Visa is accepted.
The card was built with infrastructure firm Rain and uses Crossmint's wallet technology, running on the Stellar network. At launch, it supports USDC, with plans to add MoneyGram's own MGUSD stablecoin in the near future.
Eligibility for the card requires customers to be located in an active market and complete MoneyGram's know-your-customer verification process. Colombia is currently the only live market, but MoneyGram has indicated plans to expand across Latin America without naming specific countries or a firm timeline.