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MoneyGram launches a stablecoin-backed Visa card in Colombia
The virtual card lets recipients spend a stable-dollar balance held in the MoneyGram app at Visa merchants without converting to pesos.
MoneyGram has launched the MoneyGram Card in Colombia, a virtual Visa card that spends a stablecoin-backed dollar balance held inside the MoneyGram app. The card goes live this week and is set to expand to more markets in the coming months, with details around additional capabilities previously outlined by the company.
The product is designed to keep remittance funds within MoneyGram after they arrive. Recipients who convert cash and then leave with dollars in the app can use those USD balances directly at Visa merchants, with the outlet describing it as keeping recipients as customers.
The card infrastructure involves multiple partners, including Crossmint for the wallets where the balances live, Stellar for moving funds, and Rain for connecting the balance to Visa's network via a single API integration. Rain says the card can be used at more than 175 million merchant locations, and the companies describe MoneyGram as on pace to route about $3 billion of its annual FX trading through stablecoins.
MoneyGram says it serves more than 60 million active customers across more than 200 countries and territories, and it plans additional releases. A feature allowing spending online or in-person in USD globally via linked Visa or Mastercard debit cards arrived Thursday only on Visa, while a physical card option for ATM and in-person use is slated for late 2026.