MoneyGram International, a global leader in cross-border money transfers, has launched the MoneyGram Card, a new digital payment product integrating stablecoin technology with Visa compatibility. The card is now being introduced in Colombia as the initial market, with expansions planned for additional countries in the near future.
A stablecoin-powered payment card
Unlike traditional debit cards linked to a bank account, the MoneyGram Card allows users to load USD Coin (USDC) onto their accounts and spend it anywhere Visa is accepted. The setup positions a stablecoin balance, rather than fiat funds, at the core of all transactions. Users can add the card to Apple Wallet or Google Wallet and use tap-to-pay features, making payments similar to any regular Visa card. Existing MoneyGram app users can transition to the card without needing to install new wallets or learn new procedures.
The firm collaborated with several partners to bring the MoneyGram Card to market. Rain, a payments infrastructure provider, handles the card system; Crossmint manages the digital wallet layer; and Stellar, an established blockchain network, is responsible for moving the underlying funds.
Mini dictionary: Stellar, an open-source blockchain network designed for fast and low-cost cross-border payments, is used by financial institutions and fintech firms to enable seamless value transfer and asset issuance globally.
Anthony Soohoo, chairman and CEO of MoneyGram, emphasized that “we’re giving customers more freedom and control to manage their money, all in one place,” and described the launch as building on the company’s established global payments network.
Colombia as the pilot market
Colombia is the first country to access the MoneyGram Card. The company stated that additional markets are expected to follow in the coming months, although specific countries have not yet been identified. Until late this year, only a digital version of the card will be available; MoneyGram plans to introduce a physical card later, enabling ATM withdrawals and compatibility with merchants not supporting digital wallets.
Currently, USDC is the only supported stablecoin for card transactions. MoneyGram’s proprietary MGUSD token, announced earlier this year, is expected to be added to the product, though a timeline has not been provided.
Traditional features meet digital assets
MoneyGram continues to support cash pick-up services, which have been central to its business model for 85 years. Card users can transfer funds from their digital balance and arrange for cash collection at any of nearly 500,000 retail locations worldwide, maintaining continuity with the company’s legacy operations.
Physical payout locations and cash withdrawals remain available, supporting MoneyGram’s established service network even as stablecoin technology becomes part of daily transactions.
Expanding blockchain integration and industry trends
This product launch follows MoneyGram’s ongoing expansion into blockchain-based payment services. Its Ramps product, launched recently on Solana, offers developers new tools on different blockchain networks. Both the Card and Ramps aim to make stablecoins more accessible by embedding them into familiar financial tools.
Other countries and companies are exploring similar innovations. Uzbekistan recently piloted the HUMO stablecoin pegged to its national currency, and new tokenized credit funds are being created to close funding gaps in various regions. These efforts reflect a broader move to use blockchain rails for real-world transactions.
| Product/Initiative | Core Technology | Pilot Market | Spending Network | Status |
|---|---|---|---|---|
| MoneyGram Card | Stellar/USDC | Colombia | Visa | Launched |
| Uzbekistan HUMO | HUMO stablecoin | Uzbekistan | National pilot | Pilot |
| Gulf tokenized credit fund | Tokenized private credit | GCC region | Private credit | Launched |
The ongoing deployments of stablecoins in payment and credit products signal a wider pattern of integrating blockchain technology into the mainstream financial system. By reducing the need for consumers to understand technical details, companies like MoneyGram are aiming to make stablecoins a routine part of everyday spending.
