Key Insights:
- Today’s stablecoin news focuses on MoneyGram launching its first stablecoin-backed Visa card.
- The card supports spending USDC, mobile wallets, and cash pick-ups in local currency.
- MoneyGram also plans to support MGUSD after launching the USDC-backed card.
Recent stablecoin news from MoneyGram focuses on a USDC-backed Visa card for eligible customers in Colombia. USDC provides the stable-dollar backing for the card balance at launch. The digital MoneyGram Card lets users hold that balance and spend online, in stores, or across borders.
Customers can also convert funds into local currency through MoneyGram’s retail network. The launch adds everyday card payments to the company’s existing stablecoin transfer and cash-conversion services.
According to MoneyGram, Colombia marks the first market for a product designed to reach more countries. Chairman and CEO Anthony Soohoo says the service combines balance management, spending, and cash access within one interface.
The card sits within MoneyGram’s established customer journey rather than a separate application. MoneyGram plans to launch in additional global markets during the coming months. However, the company has not identified which countries are next.
Stablecoin News: Users Can Manage Balance and Spending
Within the MoneyGram app, eligible customers can register for the card and manage their balance and spending. Existing app users can complete that process without moving to another service. They can review transactions and control spending through the same account.
Customers can also add the digital card to Apple Wallet or Google Wallet. Those connections enable contactless purchases, faster checkouts, and online transactions wherever Visa is accepted.
Alongside digital spending, the product links the app balance with MoneyGram’s cash network. Customers can send funds to themselves and then collect local currency at a nearby MoneyGram location. Meanwhile, Visa acceptance expands access to spending across more than 175 million merchant locations.
Payments News Tracks a Wider Rollout
MoneyGram plans to add a physical card option in late 2026 following the digital launch. That version will support ATM withdrawals and in-person purchases where digital cards are less widely accepted. Until then, customers use mobile wallets for point-of-sale purchases.
Before then, the company plans to extend the existing card into additional markets. The current timetable names no individual launch dates beyond Colombia’s immediate availability.
The expansion will draw on MoneyGram’s broader payments footprint. The company reports more than 60 million active customers across over 200 countries and territories. Its physical network includes nearly 500,000 retail locations. Its digital network also reaches billions of endpoints, built over more than 85 years of money-transfer operations.
Rain developed the card infrastructure for the stablecoin-powered payments service.
Crossmint provides the wallet capabilities, while the Stellar network handles the blockchain layer. Together, those systems link the customer’s stable-dollar balance to Visa spending within MoneyGram’s app. Notably, the arrangement keeps card controls, balance information, and transaction management within the same mobile experience.
USDC Builds on Existing Stablecoin Rails
The card builds on MoneyGram’s earlier work with USDC across its physical and digital networks. In 2022, the company launched cash-to-crypto and crypto-to-cash conversions. That service allows customers to exchange cash for USDC or convert USDC into cash. The latest product adds direct card spending to those transfer and conversion options.
Earlier this year, MoneyGram also launched MGUSD, its native dollar-pegged stablecoin. MGUSD operates on Stellar and initially serves the United States, with broader expansion planned.
Bridge, a Stripe company, acts as the regulated issuer under the GENIUS Act framework. Meanwhile, M0’s smart contracts manage the token’s minting and burning functions.
Fireblocks supplies custody infrastructure for the MGUSD service. MoneyGram holds MGUSD in Fireblocks wallets before sending funds to customer wallets embedded within its app.
Separately, MoneyGram says its stablecoin-based foreign-exchange activity approaches an annual pace of roughly $3 billion. The USDC card now adds a Visa payment option to the same app-based stablecoin operation.
