MoneyGram Unveils Stablecoin-Backed Card for Everyday Spending in Colombia

MoneyGram has launched a stablecoin-backed card in Colombia, allowing users to spend at Visa merchants or cash out locally through MoneyGram. The new card is backed by Circle's USDC, which can be used for everyday spending.

The service will initially allow users to spend and withdraw at local businesses using the $USDC, with plans to add MoneyGram's own stablecoin, MGUSD, in the future.

MoneyGram aims to expand this offering to more markets, but no specific timeline or details were provided.