MoneyGram has entered the stablecoin card market with a Stellar-powered Visa card designed for everyday payments in Latin America. The company launched its initial pilot in Colombia with fintech firm Rain and crypto infrastructure provider Crossmint.
The new virtual card lets users spend USDC at retailers while accessing mobile wallets for contactless payments. Consequently, the product connects digital-dollar balances with conventional retail payments without requiring users to withdraw cash first.
USDC Converts Automatically at Checkout
Users can access the card through the MoneyGram app after completing identity verification. They can then connect it with Apple Pay or Google Wallet for Visa payments. At checkout, the system converts USDC into Colombian pesos automatically for settlement.
Additionally, Stellar provides the blockchain infrastructure for fast transactions. Crossmint handles wallet custody for the service. MoneyGram also plans to add its MGUSD stablecoin, which runs on Stellar.
MoneyGram Targets Latin American Remittances
The company sees stablecoin payments as a potential bridge between remittances and daily spending. Instead of collecting remittances in cash, recipients can use digital balances directly at participating merchants.
Moreover, MoneyGram plans to introduce physical cards by the end of 2026. Those cards should support ATM withdrawals and expand across Latin America.
Related: Circle Brings USDC, EURC to Nu’s 140M-Customer Global Payments Push
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