MoneyGram launches USDC Visa card for users in Colombia

Key Insights:

• Recent stablecoin developments highlight MoneyGram rolling out its inaugural stablecoin-backed Visa card.
• The card enables USDC spending, mobile wallet integration, and local currency cash pick-ups.
• MoneyGram also intends to introduce support for MGUSD following the debut of the USDC-backed card.

Latest stablecoin updates from MoneyGram center around a USDC-backed Visa card tailored for qualified users in Colombia. USDC supplies the stable-dollar backing that secures the card balance right from launch. Through the digital MoneyGram Card, users can maintain that balance and make purchases online, in physical stores, or across international borders.

Additionally, clients can convert their funds into local currency via MoneyGram’s extensive retail network. This rollout introduces everyday card payments to the firm’s preexisting stablecoin transfer and cash-conversion offerings.

MoneyGram notes that Colombia serves as the initial market for an offering built to expand into further countries. Chairman and CEO Anthony Soohoo explains that the service merges balance oversight, purchasing power, and cash accessibility into a single user interface.

Rather than requiring a separate application, the card is integrated directly into MoneyGram’s existing customer interface. MoneyGram aims to release the product in additional worldwide markets in the months ahead, though specific upcoming countries have not yet been named.

Stablecoin News: Users Can Manage Balance and Spending

Eligible consumers can sign up for the card and oversee their balance and spending straight through the MoneyGram app. Current app users can finish this procedure without switching to a different platform, allowing them to monitor transactions and govern expenditures inside the same account.

Users are also able to integrate the digital card into Apple Wallet or Google Wallet, facilitating contactless payments, expedited checkouts, and internet shopping at any merchant that takes Visa.

Along with digital purchases, the offering connects the app balance directly to MoneyGram’s physical cash infrastructure. Customers can transfer funds to themselves and subsequently pick up local currency at a nearby MoneyGram branch. Simultaneously, Visa acceptance broadens spending capabilities across more than 175 million merchant locations.

Payments News Tracks a Wider Rollout

Following the initial digital launch, MoneyGram intends to introduce a physical card choice in late 2026. This physical version will facilitate ATM cash withdrawals and in-store shopping where digital cards are less commonly accepted, while mobile wallets serve point-of-sale needs in the interim.

Before that happens, the organization plans to expand the current card offering into more regions, though the timetable specifies no exact release dates following Colombia’s initial availability.

This expansion leverages MoneyGram’s larger payments infrastructure, which spans over 200 countries and territories and serves more than 60 million active clients. The physical network features close to 500,000 retail locations, and its digital network accesses billions of endpoints established over more than 85 years of money-transfer operations.

Rain built the underlying card infrastructure for this stablecoin-driven payments platform.

Crossmint supplies the wallet technology, and the Stellar network powers the underlying blockchain layer. Combined, these components connect the customer’s stable-dollar balance to Visa transactions inside the MoneyGram app, maintaining card controls, balance updates, and transaction management within a unified mobile experience.

USDC Builds on Existing Stablecoin Rails

The new card expands upon MoneyGram’s previous integration of USDC across its physical and digital ecosystems. Back in 2022, the enterprise introduced cash-to-crypto and crypto-to-cash conversions, enabling users to trade cash for USDC or vice versa. The newest product further integrates direct card spending into these established transfer and conversion tools.

Earlier in the year, MoneyGram additionally debuted MGUSD, its proprietary dollar-pegged stablecoin. MGUSD functions on the Stellar network and initially targets the United States, with broader distribution scheduled for the future.

Bridge, a Stripe company, acts as the regulated issuer governed by the GENIUS Act framework. In parallel, M0’s smart contracts oversee the token’s minting and burning mechanisms.

Fireblocks provides the custody architecture for the MGUSD ecosystem, storing MGUSD in Fireblocks wallets prior to transferring funds to consumer wallets embedded within the MoneyGram app.

Separately, MoneyGram states that its stablecoin-based foreign-exchange operations run at an annualized rate of roughly $3 billion. The introduction of the USDC card now brings a Visa payment alternative to this exact app-based stablecoin framework.