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MoneyGram Launches Stablecoin-Backed Visa Card in Colombia
New card connects stablecoin balances with merchant payments, mobile wallets and cash access
TL;DR
- MoneyGram launched its first stablecoin-backed Visa card in Colombia, with USDC supported initially and MGUSD planned next.
- The digital card works through the MoneyGram app, supports online and tap-to-pay purchases, and connects users with MoneyGram's cash network.
- MoneyGram plans a wider Latin American rollout and a physical version with ATM withdrawal capability later in 2026.
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MoneyGram launched its first stablecoin-backed Visa card in Colombia on September 10, 2026, giving eligible customers a way to hold a dollar-denominated stablecoin-backed balance and spend it through Visa's payment network. USDC is supported at launch, while MoneyGram's own MGUSD stablecoin is expected to be added in the near future. The product differs from a traditional debit card because the underlying balance is stablecoin-backed rather than a conventional fiat bank deposit.
MoneyGram is initially offering the MoneyGram Card as a digital card inside its mobile app. Customers in an active card market who complete the company's know-your-customer process can apply through the app, manage their balance and spending, and add the card to supported mobile wallets for online transactions and tap-to-pay purchases.
A MoneyGram spokesperson said, “The card is stablecoin-backed and is not a traditional bank account or fiat-currency balance.” The structure allows customers to spend stable-dollar value through existing Visa merchant infrastructure without first manually converting the balance for an ordinary card purchase.
Customers can also transfer funds from their MoneyGram balance to themselves and collect the equivalent in local currency at a MoneyGram location. That connects the card with MoneyGram's physical cash network, which the company says serves more than 60 million active customers across more than 200 countries and territories through nearly 500,000 retail locations.
Stablecoin infrastructure links Visa, Stellar and MoneyGram's cash network
The MoneyGram Card was developed with Rain, a stablecoin payments infrastructure company that supports stablecoin-linked card programs. Crossmint provides wallet capabilities for the product, while the card uses the Stellar network, extending MoneyGram's existing use of Stellar-based stablecoin infrastructure.
MoneyGram began working with stablecoins in 2021 through a partnership with the Stellar Development Foundation that enabled conversions between physical cash and USDC. That earlier system allowed users to move between cash and USDC in both directions, creating infrastructure that now supports a broader consumer payment product rather than only remittance and cash-conversion activity.
MoneyGram CEO Anthony Soohoo said, “We're giving customers more freedom and control to manage their money, all in one place.” The new card combines a stablecoin-backed balance with app-based card management, mobile-wallet access, Visa merchant payments and local-currency cash pickup through MoneyGram locations.
MoneyGram also unveiled MGUSD in June 2026. The U.S. dollar-backed stablecoin runs on Stellar and is issued by Bridge, the stablecoin infrastructure company owned by Stripe. MoneyGram was also identified as a partner in Open USD, a Stripe-led stablecoin initiative built around a consortium model in which participating backers can share revenue.
USDC remains the card's supported stablecoin at launch, with MGUSD expected to become another supported asset. Asked whether the MoneyGram Card would expand to blockchain networks beyond Stellar, a MoneyGram spokesperson declined to comment.
Colombia starts broader card rollout
Colombia is the first active market for the MoneyGram Card. MoneyGram plans to expand the product across Latin America before moving into additional markets over the coming months.
The company also plans to introduce a physical MoneyGram Card later in 2026. The physical version is expected to support ATM cash withdrawals and provide another way to use the card for in-person payments beyond mobile-wallet and digital-card transactions.
The launch marks MoneyGram's first stablecoin-backed card, but not its first card product. The company previously operated MoneyGram Account, a fiat-based account that included physical and digital Visa debit cards issued by Pathward.
MoneyGram discontinued MoneyGram Account in December 2025. A spokesperson said the new stablecoin product represents a different structure: “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 said MoneyGram currently offers no other cards.
The distinction separates the new offering from the earlier MoneyGram Account. That product centered on a fiat account linked to Visa debit cards, while the MoneyGram Card uses a stablecoin-backed dollar balance that MoneyGram does not characterize as a conventional bank account.
Stablecoin cards move further into consumer spending
Stablecoin-linked card activity has grown alongside the wider stablecoin market. Stablecoin card spending volume exceeded $1.1 billion in August 2026, according to PaymentScan data cited with the launch.
Total stablecoin supply was also cited at nearly $300 billion. Visa's public stablecoin data showed adjusted stablecoin transaction volume reaching trillions of dollars over the previous 12 months across major blockchains.
Stablecoin cards connect blockchain-based balances with existing card payment systems, allowing customers to spend stablecoins through familiar merchant infrastructure. MoneyGram's version adds another layer by linking those balances with its retail cash network, allowing users to move between digital dollars, card payments and local-currency cash.
The launch follows a sequence of stablecoin initiatives from MoneyGram, beginning with its Stellar Development Foundation partnership, followed by the introduction of MGUSD and now a consumer card that brings stablecoin-backed balances into everyday spending.
This article has been refined and enhanced by ChatGPT.
