MoneyGram Unveils Stablecoin-Backed Visa Card in Colombia

MoneyGram has launched a stablecoin-backed Visa card in Colombia, marking its entry into the growing category of crypto-enabled payment cards.

The virtual card is linked to a stable-dollar balance held within the MoneyGram app and can be used for everyday payments online or in stores where Visa is accepted.

According to MoneyGram's official product page, customers can manage their virtual card within the app, review card activity, and freeze or unfreeze it without leaving the platform.

The card connects a stable-dollar balance held on the Stellar network with traditional payment networks through Rain's infrastructure, allowing customers to spend their balance without merchants needing to accept stablecoins directly.