MoneyGram's Stablecoin Card Takes Aim at Remittance Market

MoneyGram has launched its MoneyGram Card in Colombia, marking an important step towards integrating stablecoin technology into its remittance business. The card allows eligible customers to spend from a stable-dollar balance directly through the company's app.

The card's underlying infrastructure is split among several providers, including Rain for the card layer, Crossmint for wallet technology, and Stellar for blockchain settlement. MoneyGram controls the consumer interface and connects the product with its existing money-transfer network.

This new card builds on MoneyGram's earlier stablecoin service in Colombia, which allows transfers from the U.S. to be delivered as USDC to an embedded wallet. The recipient can hold digital dollars or convert them into Colombian pesos through MoneyGram locations.

MoneyGram's large physical retail network gives its stablecoin strategy a different profile than digital-only wallets and cards. The company has services reaching more than 60 million active customers across over 200 countries and territories, supported by nearly 500,000 retail locations.