MoneyGram Rolls Out USDC-Backed Visa Card in Colombia

MoneyGram has launched a Visa card that allows customers to spend USD Coin (CRYPTO:USDC) anywhere Visa is accepted, starting in Colombia. This move is notable because MoneyGram previously partnered with Ripple on cross-border payments.

The new card draws its balance from a USDC wallet rather than a bank account, giving customers more flexibility and control over their finances. The card's technology stack includes Rain for card issuance, Crossmint for wallet technology, and Stellar (CRYPTO:XLM) for settlement.

Ripple's former partner chose Circle's stablecoin, USDC, over Ripple's own dollar-backed stablecoin, RLUSD. This decision raises questions about Ripple's payments ambitions and the demand for XRP.