MoneyGram Unveils Stablecoin-Backed Card for Visa-Merchant Acceptance

MoneyGram has launched a stablecoin-backed card that allows its customers to hold a balance denominated in US dollars and spend it at any merchant that accepts Visa.

The card will initially use Circle's USDC and later integrate MoneyGram's own token, MGUSD. The product was developed alongside stablecoin payments firm Rain, wallet provider Crossmint, and the Stellar blockchain.

MoneyGram plans to expand the card to other markets after its initial launch in Colombia. The company serves over 60 million active customers across more than 200 countries and territories.