MoneyGram Unveils Stablecoin-Powered Visa Card in Colombia

MoneyGram has launched a virtual Visa card in Colombia that allows users to spend stablecoin balances through the Stellar blockchain.

The pilot, developed through partnerships with Rain and Crossmint, enables Colombian users to access the card through the MoneyGram app after completing identity verification.

Users can then add the card to Apple Pay or Google Wallet for contactless payments. The service is designed to connect digital-dollar balances with everyday spending, reducing the need to first withdraw or convert funds into cash before using them for purchases.

The card uses USDC as its initial funding asset, and at checkout, the system converts the required amount of USDC into Colombian pesos for settlement, allowing merchants to receive local currency without needing to accept or hold cryptocurrency directly.