MoneyGram Debuts Stablecoin-Backed Visa Card
MoneyGram has launched its first stablecoin-backed Visa card, the MoneyGram Card, which is underpinned by USDC, a leading stablecoin co-developed and managed by Circle Internet Group. This move brings together traditional payments with modern stablecoin infrastructure.
The card's functions match those of a traditional debit card, allowing users to send payments anywhere MoneyGram operates and pick up funds in local currency. The company promises a smooth experience, but there is much happening under the hood to fuse traditional payments with modern stablecoin technology.
MoneyGram partnered with Rain, Crossmint, and Stellar to manage the card's infrastructure, which includes loading USDC onto the digital product. Users sign up for the card in MoneyGram's mobile app and can manage all functions once it's active.