MoneyGram launches first stablecoin-backed Visa card in Colombia

MoneyGram, the 86-year-old global payments company, has launched its first stablecoin-backed Visa card, initially available in Colombia.

The card lets eligible customers hold a stable-dollar balance, use the card where Visa is accepted and transfer funds from their MoneyGram balance to pick up local currency at MoneyGram locations, the company said Thursday.

The card expands MoneyGram's stablecoin push beyond money transfers into everyday spending. The company has worked with stablecoins since 2021, when it partnered with Stellar Development Foundation to support cash-to-USDC and USDC-to-cash conversions through its network. In June this year, MoneyGram also launched its own dollar-pegged stablecoin, MGUSD, designed for use across its global network.

The new MoneyGram Card supports USDC at launch, a company spokesperson told The Block, adding that the company plans to add support for MGUSD in the near future.

Asked why MoneyGram does not call it a debit card, the spokesperson said, "The card is stablecoin-backed and is not a traditional bank account or fiat-currency balance."

How the MoneyGram Card works

The MoneyGram Card is currently available digitally inside the MoneyGram app. Customers can sign up for the card, manage their balance and spending, and add it to mobile wallets for online and tap-to-pay purchases, the company said.

Customers can also transfer funds from their MoneyGram balance to themselves and pick up local currency at a nearby MoneyGram location.

MoneyGram said it serves more than 60 million active customers across more than 200 countries and territories and has nearly 500,000 retail locations.

To be eligible for the card, customers must be in an active market and complete MoneyGram's know-your-customer process, the spokesperson said. Colombia is the first active market, and MoneyGram plans to expand initially across Latin America, the spokesperson said, declining to share specific countries.

The MoneyGram Card was developed with Rain, a stablecoin payments infrastructure firm that helps companies issue stablecoin-linked card programs. The card also uses Crossmint's wallet capabilities and the Stellar network. Asked whether MoneyGram plans to support networks beyond Stellar, the spokesperson declined to comment.

Previous card discontinued

The new card is MoneyGram's first stablecoin-backed card, but not its first card product overall. MoneyGram previously offered MoneyGram Account, a fiat-based account with physical and digital Visa debit cards issued by Pathward. That product was discontinued in December 2025, the spokesperson said.

"With the new MoneyGram Card, we've taken a fundamentally different approach that combines the benefits of stablecoins with a seamless customer experience for everyday utility," the spokesperson added.

MoneyGram does not currently offer any other cards, the spokesperson also noted.

The launch comes as payment companies are pushing deeper into stablecoins. Stablecoin supply has grown to nearly $300 billion, while Visa's public stablecoin dashboard shows adjusted transaction volume running in the trillions of dollars over the past 12 months across major blockchains.

MoneyGram plans to add a physical card option in late 2026, which would let customers withdraw cash at ATMs and make in-person purchases in places where digital cards are less widely accepted.

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