MoneyGram Rolls Out Stablecoin-Based Visa Card on Stellar Blockchain in Colombia

MoneyGram has launched a stablecoin-based debit card in Colombia, using the Stellar (XLM) blockchain network.

The virtual Visa card allows users to convert digital dollars directly into everyday purchases and is part of MoneyGram's plans to transform the remittance market in Latin America.

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

The key feature of its Stellar-based architecture is automatic conversion at checkout, where customers hold their balances in USDC, which is instantly converted into fiat pesos at the moment of purchase for settlement through Visa's global network.