MoneyGram, the international payments firm with 86 years in business, has introduced its inaugural stablecoin-supported Visa card, rolling out first within Colombia.
The business stated that the card allows eligible users to maintain a stable dollar reserve, spend wherever Visa is accepted, and move money from their MoneyGram funds to collect physical local cash at various MoneyGram branches.
This release broadens MoneyGram’s integration of stablecoins from simple remittances into routine commerce. The organization has engaged with stablecoins since 2021 through its alliance with the Stellar Development Foundation, enabling cash-to-USDC and USDC-to-cash exchanges across its network. Furthermore, in June of this year, MoneyGram unveiled its proprietary USD-pegged stablecoin, MGUSD, meant to operate throughout its international infrastructure.
A representative for the firm informed The Block that the initial rollout of the MoneyGram Card supports USDC, with plans to incorporate MGUSD support soon.
When questioned why the company refrains from labeling it a debit card, the representative explained, “The card is stablecoin-backed and is not a traditional bank account or fiat-currency balance.”
How the MoneyGram Card works
At present, the MoneyGram Card functions digitally inside the MoneyGram mobile application. The company noted that users can register for the product, oversee their balances and expenses, and link it to digital wallets for web and contactless payments.
Additionally, clients can transfer funds from their MoneyGram account to themselves and withdraw fiat currency at a local MoneyGram branch.
MoneyGram reported that it supports upwards of 60 million active clients spanning more than 200 countries and territories, boasting nearly 500,000 retail storefronts.
To qualify for the product, users must reside in a supported region and complete the company’s identity verification procedure, according to the spokesperson. Colombia serves as the initial live market, and the firm intends to expand throughout Latin America next, though the representative withheld specific country names.
The creation of the MoneyGram Card was a collaboration with Rain, a stablecoin payments infrastructure firm that assists enterprises in launching stablecoin-linked card initiatives. The product also leverages Crossmint wallet utilities alongside the Stellar ledger. Asked if MoneyGram plans to support networks besides Stellar, the representative declined to share details.
Previous card discontinued
While this offering marks MoneyGram’s inaugural stablecoin-powered card, it is not the enterprise’s initial card offering overall. Previously, MoneyGram provided the MoneyGram Account, a fiat-denominated account featuring physical and digital Visa debit cards supplied by Pathward. The spokesperson confirmed that this offering was retired in December 2025.
The representative further noted, “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 also pointed out that MoneyGram does not currently run any alternative card programs.
This rollout arrives as financial institutions lean further into stablecoins. Total stablecoin supply approaches $300 billion, while Visa’s public stablecoin dashboard reflects adjusted transaction figures reaching trillions over the past year across prominent blockchains.
MoneyGram aims to introduce a physical card alternative late in 2026, enabling customers to pull cash from ATMs and complete face-to-face transactions in regions where digital cards see less adoption.
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Originally published at https://www.theblock.co/news/business/2026-09-10-moneygram-card-stablecoin-visa-colombia-414137.
